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9 October, 07:08

At the time a $450 petty cash fund is being replenished, the company's accountant finds vouchers totaling $350 and petty cash of $100. The vouchers include: postage, $90; business lunches, $135; delivery fees, $80; and office supplies, $45. Which of the following is not recorded when recognizing expenditures from the petty cash fund? a. Debit petty cash, $350b. Debit supplies, $45c. Debit postage expense, $90d. Credit petty cash, $350

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  1. 9 October, 07:28
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    The entry that should not be recorded is debit petty cash, $300. Option A.

    Explanation:

    Vouchers recorded for expenses:

    Postage

    Business lunches

    Delivery fees

    Office supplies

    The journal entry when recognizing expenditures from the petty cash fund should be as under:

    Accounts : Credit Debit

    Postage $ 90

    Business lunches $ 135

    Delivery fees $ 80

    Office supplies $ 45

    Petty Cash $350

    The entry that should not be recorded is debit petty cash, $300
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