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Author Question: A 150 petty cash fund has cash of 54 and receipts of 83 . The journal entry to replenish the account ... (Read 344 times)

azncindy619

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on: Jul 5, 2018
A 150 petty cash fund has cash of 54 and receipts of 83 . The journal entry to replenish the account wouldinclude a
 a. credit to Petty Cash for 29
  b. debit to Cash for 83
  c. debit to Cash Over and Short for 13
  d. credit to Cash for 54

Question 2

Acme, Inc. accepted a promissory note from NadirCo, who promised to pay Acme 5,000 plus 6 interest at the end of four months. When NadirCo pays the note, Acme will receive ________.
 
  A) 5,000
  B) 5,300
  C) 5,100
  D) 5,150


sierramartinez

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Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

C


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