Question 8 A petty cash fund of $333 is replenished when the fund contains $20 in cash and receipts

Question 8

A petty cash fund of $333 is replenished when the fund contains $20 in cash and receipts for $306. The entry to replenish the fund would debit Miscellaneous Expense for $7. credit Cash Over and Short for $7. debit Cash Over and Short for $7. credit Miscellaneous Revenue for $7.

 

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