Which of the following would be included in the entry to record the replenishment of a petty cash fund?
A)A debit to Cash
B)A credit to Petty cash
C)A credit to Cash
D)A credit to various expenses and assets

Question

Quizplus · Accepted Answer

When a petty cash fund is replenished, cash is being used from the main cash account to refill the fund. Therefore, the entry should include a credit to the main cash account to show that cash is leaving that account. A debit to petty cash would be made when the fund is initially established, but not when it is replenished. No credit to various expenses and assets would be necessary because the entry only involves refilling the petty cash fund.

Which of the Following Would Be Included in the Entry