ackson Co. needs to replenish its petty cash fund. Currently, it contains $11 in cash and receipts for supplies of $40 and delivery expenses of $49. The fund was initially established with $100. Demonstrate the journal entry to replenish the account by choosing the correct actions from those below. (Check all that apply.) Petty Cash is debited for $89. Cash is credited for $89. Supplies Expense is debited for $40. Petty Cash is credited for $89. Delivery Expense is debited for $49. Confidence Level

Question

Business

Andersen

9 July, 04:42

ackson Co. needs to replenish its petty cash fund. Currently, it contains $11 in cash and receipts for supplies of $40 and delivery expenses of $49. The fund was initially established with $100. Demonstrate the journal entry to replenish the account by choosing the correct actions from those below. (Check all that apply.) Petty Cash is debited for $89. Cash is credited for $89. Supplies Expense is debited for $40. Petty Cash is credited for $89. Delivery Expense is debited for $49. Confidence Level

+3

Answers (1)

Know the Answer?

Roy West · Answer 1

Cash is credited for $89

Supplies Expense is debited for $40

Delivery Expense is debited for $49.

Explanation:

The journal entry is shown below:

Delivery expenses $49

Supplies expenses $49

To Cash $89

(Being the replenish of the account is recorded)

While recording this journal entry we debited the delivery expenses, supplies expenses and credited the cash account so that the proper posting could be done