The following were the transactions involving an entity's petty cash fund during the period. July 1, 20x1 Established $30,000 petty cash fund. July through 20x1 1 Disbursements: 21,- Office supplies expense - Transportation expenses - Repairs and maintenance - Miscellaneous expense Total $4,200 10,500 3,000 9,000 $26,700 July 22, Total coins and currencies in the petty cash box is P1,500. Replenishment 20x1 is made. 19. The petty cash fund is not replenished and financial statements are prepared on July 31, 20x1. The month-end adjustment to the petty cash fund would not include a A. debit to receivable from custodian for $1,800. B. credit to petty cash fund for $28,500. C. total debits to various expense accounts for $26,700. D. credit to cash in bank for $28,500.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following were the transactions involving an entity's petty cash fund during the
period.
July 1, 20x1 Established $30,000 petty cash fund.
July
1
Disbursements:
through 21,
20x1
- Office supplies expense
- Transportation expenses
- Repairs and maintenance
- Miscellaneous expense
Total
$4,200
10,500
3,000
9,000
A. debit to receivable from custodian for $1,800.
B. credit to petty cash fund for $28,500.
C. total debits to various expense accounts for $26,700.
D. credit to cash in bank for $28,500.
P26,700
July 22, Total coins and currencies in the petty cash box is $1,500. Replenishment
20x1
is made.
19. The petty cash fund is not replenished and financial statements are prepared
on July 31, 20x1. The month-end adjustment to the petty cash fund would not
include a
Transcribed Image Text:The following were the transactions involving an entity's petty cash fund during the period. July 1, 20x1 Established $30,000 petty cash fund. July 1 Disbursements: through 21, 20x1 - Office supplies expense - Transportation expenses - Repairs and maintenance - Miscellaneous expense Total $4,200 10,500 3,000 9,000 A. debit to receivable from custodian for $1,800. B. credit to petty cash fund for $28,500. C. total debits to various expense accounts for $26,700. D. credit to cash in bank for $28,500. P26,700 July 22, Total coins and currencies in the petty cash box is $1,500. Replenishment 20x1 is made. 19. The petty cash fund is not replenished and financial statements are prepared on July 31, 20x1. The month-end adjustment to the petty cash fund would not include a
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