A company set-up a petty cash fund with $800. The disbursements are as follows:

Office Supplies

$300

Shipping

50

Postage

30

Delivery Expense

$350

Answer the question below based on the above information.

To create the fund, which account should be credited?

Question 1 options:

Postage

Supplies

Petty Cash

Cash at Bank

Question

Business

Hunter Shelton

11 December, 07:49

A company set-up a petty cash fund with $800. The disbursements are as follows:

Office Supplies

$300

Shipping

50

Postage

30

Delivery Expense

$350

Answer the question below based on the above information.

To create the fund, which account should be credited?

Question 1 options:

Postage

Supplies

Petty Cash

Cash at Bank

+2

Answers (1)

Know the Answer?

Harpo · Answer 1

Petty Cash

Explanation:

The fundamental principle of accounting is credit the giver and debit the receiver. In this instance petty cash is giving out money to Office Supplies, Shipping, Postage and Delivery expense