Given the Following Information What Is the Amount That Needs to Be Recorded for }

question 152

Multiple Choice

Given the following information:
$$\begin{array} { l r l r } \text { Petty cash balance: } & \$ 530.00 & \text { Courier receipt: } & \$ 74.22 \\\text { Postage receipt: } & \$ 25.00 & \text { Office Supplies receipt: } & \$ 95.64 \\\text { Business Meal receipt: } & \$ 54.21 & \text { Cash on hand at the end of the month: }& \$ 299.71\end{array}$$
What is the amount that needs to be recorded for cash over and short?

• A) debit $23.29
• B) credit $23.29
• C) debit $18.78
• D) no cash over and short is necessary
• E) credit $18.78

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Definitions:

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