A Petty Cash Fund Was Established with a $400 Balance

question 62

Multiple Choice

A petty cash fund was established with a $400 balance.It currently has cash of $10 and petty cash tickets as shown below. $\begin{array}{|l|r|}\hline \text { Travel expense } & \$ 120 \\\hline \text { Office supplies } & \$ 200 \\\hline \text { Equipment rental expense } & \$ 70\\\hline \end{array}$ The journal entry to replenish the account would be which of the following:

• A) Debit various expenses $390, credit Cash $390
• B) Debit various expenses $390, credit Petty cash fund $390
• C) Debit Cash $10, credit various expenses $10
• D) Credit Petty cash fund $390, debit Cash $390

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Definitions:

Ratings Changes

Adjustments in evaluation metrics or scores that reflect a change in performance, quality, or satisfaction levels.

Selye's Concept

Pertains to the General Adaptation Syndrome, a theory by Hans Selye that describes the body's short-term and long-term reactions to stress.

Stress

A condition of mental or emotional strain resulting from adverse or demanding circumstances.

Lifelong Poverty

A state of living in poverty for a significant portion or the entirety of an individual's life, often resulting in chronic hardships.