1.A $100 petty cash fund has cash of $15 and receipts of $80. The journal entry

Question

1.A $100 petty cash fund has cash of $15 and receipts of $80. The journal entry to replenish the account would include a credit to

Cash Over and Short for $5.

Cash for $85.

Cash for $80.

Petty Cash for $85.

2. Wright sells softball equipment. On November 14, they shipped $1,000 worth of softball uniforms to Paola Middle School, terms 2/10, n/30. On November 21, they received an order from Douglas High School for $600 worth of custom printed bats to be produced in December. On November 30, Paola Middle School returned $100 of defective merchandise. Wright has received no payments from either school as of month end. What amount will be recognized as net accounts receivable on the balance sheet as of November 30?

$1,600

$1,500

$1,000

$900

Explanation / Answer

Cash for $85. $900

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.