On April 30, Midwest Company established a petty cash fund of $1,000. On May 1, a disbursement of $355 was made from the fund for payment of delivery expense. What entry should be made on May 1 to record this disbursement?

Debit Delivery expense $355; Credit Cash $355

Explanation: Firstly, the disbursement was made from the petty cash account. This ultimately represents a cash account. Secondly, the disbursement was used for the payment of delivery expense to the tune f $355 (this is an operating expense). So the appropriate journals entries required to be recorded are as provided above. The disbursement is an outflow of cash and it was used for delivery expense.

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.