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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
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.
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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