Spencer co. has a $350 petty cash fund. at the end of the first month the accumulated receipts represent $58 for delivery expenses, $187 for merchandise inventory, and $27 for miscellaneous expenses. the fund has a balance of $78. the journal entry to record the reimbursement of the account includes a:

a. credit to cash for $272.
b. credit to cash over and short for $78.
c. debit to cash over and short for $78.
d. debit to petty cash for $350.
e. credit to inventory for $187.

Option (A) is correct.

Explanation:

Given that,

petty cash fund = $350

accumulated receipts for delivery expenses = $58

merchandise inventory = $187

miscellaneous expenses = $27

fund has a balance = $78

Therefore,

The journal entry for the reimbursement of the account is as follows:

Delivery expenses A/c             Dr. $58

Merchandise inventory A/c      Dr. $187

Miscellaneous expenses A/c    Dr. $27

To Cash A/c                                                   $272

(To record petty cash reimbursement)

A. Credit to Cash for $272.

Explanation:

The journal entry for the reimbursement of the account is as follows:

Delivery expenses A/c             Dr. $58

Merchandise inventory A/c      Dr. $187

Miscellaneous expenses A/c    Dr. $27

To Cash A/c                                                   $272

answer; (cash) is the best out of the above; good luck

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it