Michelle wants to replenish the $300 petty cash fund. She has receipts for the following total payments: postage
(Office Expense), $40; supplies, $25; and repairs, $45. A cash count shows $175 in the petty cash box. What is the
correct journal entry to record the transaction?
Select one of the following:
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Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Cash $110
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Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Petty Cash $110
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Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Cash $110, credit Cash Short and Over $15
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Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and debit Cash Short and Over $15, and credit Cash $125