A Petty Cash Fund Was Established with a $300 Balance

question 35

Essay

A petty cash fund was established with a $300 balance.It currently has cash of $73 and petty cash tickets totaling $222 for travel expense.Provide the journal entry to record the replenishment of the fund.

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Definitions:

Principle Plus Interest

The total amount owed or invested, composed of the original sum (principal) and the earnings on that sum (interest).

Burden Of Proof

To convict a defendant, the duty of the plaintiff or prosecution to establish a claim or allegation by admissible evidence and to prove to the jury or court, beyond any reasonable doubt, that the defendant committed all the essential elements of the crime.

Beyond A Reasonable Doubt

The standard of evidence required to validate a criminal conviction in most courts, denoting a high level of certainty that the accused is guilty as charged.

Oral Or Written Contract

An agreement between parties that can be either spoken or documented in writing, legally binding both parties to its terms.