This paper circulates around the core theme of Ferguson Co. has a $260 petty cash fund. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 79. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
Ferguson Co. has a $260 petty cash fund. At the end of the first month the accumulated receipts represent $49 for delivery expenses, $151 for merchandise inventory, and $18 for miscellaneous expenses. The fund has a balance of $42. The journal entry to record the reimbursement of the account includes a:Debit to Petty Cash for $260.Debit to Cash Over and Short for $42.Credit to Cash for $218.Credit to Inventory for $151.Credit to Cash Over and Short for $42.