A Petty Cash Fund Was Established with a $600 Balance

question 137

Multiple Choice

A petty cash fund was established with a $600 balance.It currently has cash of $45 and petty cash tickets as shown below:

Which of the following would be included in the journal entry to replenish the Petty Cash fund?

• A)debit to Cash Short & Over for $85
• B)credit to Cash Short & Over for $85
• C)debit to Petty Cash for $85
• D)credit to Petty Cash for $85

---

Definitions:

Profit-maximizing Output

The level of production at which a firm achieves the highest possible profit, where marginal revenue equals marginal cost.

Demand

The desire to purchase goods or services at certain prices, reflecting how much of a product consumers are willing to buy at various price points.

Cost Data

Information regarding the expenses incurred in producing a product or offering a service.

Budweiser

A popular brand of beer produced by Anheuser-Busch, known for its widespread global presence and distinctive marketing campaigns.