Asked by Jesus Armenta on Jul 20, 2024
Verified
The entry to record reimbursement of the petty cash fund for postage expense should include:
A) A debit to Postage Expense.
B) A debit to Petty Cash.
C) A debit to Cash.
D) A debit to Cash Short and Over.
E) A debit to Supplies.
Postage Expense
The cost incurred by a business for sending mail, packages, or parcels through the postal service or courier companies.
Petty Cash Fund
A small amount of cash on hand used for covering minor expenses, managed through a system of vouchers to maintain control.
- Absorb the essentials of the role and bookkeeping of modest cash exchanges, including the constructing and refilling of petty cash vaults.
Verified Answer
DS
Deeep SinghhJul 24, 2024
Final Answer :
A
Explanation :
When reimbursing the petty cash fund for postage expenses, the entry should include a debit to Postage Expense to reflect the expense incurred.
Learning Objectives
- Absorb the essentials of the role and bookkeeping of modest cash exchanges, including the constructing and refilling of petty cash vaults.
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