Phil's Training Service's $100 Petty Cash Fund Has a Shortage

Phil's Training Service's $100 petty cash fund has a shortage of $4. The facts are: $80 in valid receipts for expenses; $16 in coins and currency. The journal entry to replenish the petty cash fund would include a

A) credit to Cash for $80.
B) credit to Petty Cash for $84.
C) credit to Cash Short/Over for $4.
D) debit to Cash Short/Over for $4.

Correct Answer:

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