On January 1, 2004, Ellen Inc. established a petty cash fund of $200. On Decembe

Question

On January 1, 2004, Ellen Inc. established a petty cash fund of $200. On December 31, 2004, the petty cash fund was examined and found to have receipts and documents for miscellaneous expenses amounting to $132. In addition, there was cash amounting to $60. What entry would be required to record replenishment of the petty cash fund on December 31, 2004?
a.(dr)Petty Cash $132
(dr)Cash Over and Short $8
(cr) Cash $140

b. (dr)Petty Cash $140
(cr)Cash $140

c. (dr)Micellaneous Expense $140
(cr)Cash Over and Short $8
(cr)Cash $132

d. (dr)Miscellaneous Exp. $132
(dr)Cash Over and Short $8
(cr)Cash $140


please show work

Explanation / Answer

a.(dr)Petty Cash $132 (dr)Cash Over and Short $8 (cr) Cash $140

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