Which of the following would be included in the entry to record the replenishment of a petty cash fund?
A)a credit to Petty cash
B)a debit to Accounts Receivable
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 added to the fund to bring it back to its original balance. This cash is typically drawn from the company's general cash account, so a credit to Cash account is made. No debit to Accounts Receivable or a credit to various expenses and assets is necessary, and a credit to Petty cash is not appropriate as this account is used to record disbursements from the petty cash fund, not a replenishment of it.

Which of the Following Would Be Included in the Entry