Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 Freight charge for merchandise purchased December 7 Delivery charge for shipping to customer December 12 Purchase of office supplies December 18 Donation to charitable organization If, in addition to these receipts, the petty cash fund contains $279.75 of cash, the journal entry to reimburse the fund on December 31 will include: Multiple Choice Tradial A credit to Cash Over and Short of $11.25 $47 $71 $36 $55 A debit to Transportation-in of $83
Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 Freight charge for merchandise purchased December 7 Delivery charge for shipping to customer December 12 Purchase of office supplies December 18 Donation to charitable organization If, in addition to these receipts, the petty cash fund contains $279.75 of cash, the journal entry to reimburse the fund on December 31 will include: Multiple Choice Tradial A credit to Cash Over and Short of $11.25 $47 $71 $36 $55 A debit to Transportation-in of $83
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 10SPB
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Question
![Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last
reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts:
December 4 Freight charge for merchandise purchased
December 7 Delivery charge for shipping to customer
December 12 Purchase of office supplies
December 18 Donation to charitable organization
If, in addition to these receipts, the petty cash fund contains $279.75 of cash, the journal entry to reimburse the fund on December 31 will
include:
Multiple Choice
factura
A credit to Cash Over and Short of $11.25
A debit to Transportation-in of $83.
$47
$71
$36
$55
A debit to Petty Cash of 583](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F83d8013b-69de-4488-92f8-89b8046c8039%2F59e43a4d-9011-4b57-892b-253bd9e88584%2Fhth49lh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last
reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts:
December 4 Freight charge for merchandise purchased
December 7 Delivery charge for shipping to customer
December 12 Purchase of office supplies
December 18 Donation to charitable organization
If, in addition to these receipts, the petty cash fund contains $279.75 of cash, the journal entry to reimburse the fund on December 31 will
include:
Multiple Choice
factura
A credit to Cash Over and Short of $11.25
A debit to Transportation-in of $83.
$47
$71
$36
$55
A debit to Petty Cash of 583
![Multiple Choice
O
A credit to Cash Over and Short of $11.25.
A debit to Transportation-In of $83.
A debit to Petty Cash of $83.
A credit to Cash of $220.25.
A credit to Office Supplies of $71.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F83d8013b-69de-4488-92f8-89b8046c8039%2F59e43a4d-9011-4b57-892b-253bd9e88584%2Fewmj1wh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Multiple Choice
O
A credit to Cash Over and Short of $11.25.
A debit to Transportation-In of $83.
A debit to Petty Cash of $83.
A credit to Cash of $220.25.
A credit to Office Supplies of $71.
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