A Petty Cash Fund Was Established with a $400 Balance

A petty cash fund was established with a $400 balance.It currently has cash of $10 and petty cash tickets as shown below. $\begin{array}{|l|r|}\hline \text { Travel expense } & \$ 120 \\\hline \text { Office supplies } & \$ 200 \\\hline \text { Equipment rental expense } & \$ 70\\\hline \end{array}$ The journal entry to replenish the account would be which of the following:

A) Debit various expenses $390, credit Cash $390
B) Debit various expenses $390, credit Petty cash fund $390
C) Debit Cash $10, credit various expenses $10
D) Credit Petty cash fund $390, debit Cash $390

Correct Answer:

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