Business, 06.05.2020 04:34 gabrielolivas59

Spencer Co. has a $260 petty cash fund. At the end of the first month the accumulated receipts represent $49 for delivery expenses, $151 for merchandise inventory, and $18 for miscellaneous expenses. The fund has a balance of $42. The journal entry to record the reimbursement of the account includes a:a. Debit to Petty Cash for $260.
b. Debit to Cash Over and Short for $42.
c. Credit to Cash for $218.
d. Credit to Inventory for $151.
e. Credit to Cash Over and Short for $42.

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Spencer Co. has a $260 petty cash fund. At the end of the first month the accumulated receipts repre...

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