Question

Spencer co. Has a $200 petty cash fund. At the end of the first month the accumulated receipts represent $43 for delivery expenses, $127 for merchandise inventory, and $12 for miscellaneous expenses. The fund has a balance of $18. The journal entry to record the reimbursement of the account includes a:

Answer 1

Then spend cash and $76. Ok
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Answer 2

The Journal entry is as follows:

Explanation:

Given that,

Petty cash fund = $200

Delivery expenses = $43

Merchandise inventory = $127

Miscellaneous expenses = $12

Fund balance = $18

The petty cash book represents the petty cash expenditures that are sorted according to the date.

The journal entry is as follows:

Delivery expenses A/c Dr. $43

Merchandise inventory A/c Dr. $127

Miscellaneous expenses A/c Dr. $12

           To Cash A/c                                $182

(To record the reimbursement of the account)

Note: All the expenses includes delivery expenses, merchandise inventory and miscellaneous expenses are debited and cash credited for $182.

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