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Question

Michelle wants to replenish the Rs300 petty cash fund. She has receipts for the following total payments: postage (Office Expense), Rs40; supplies, Rs25; and repairs, Rs45. A cash count shows Rs175 in the petty cash box.What is the correct journal entry to record the transaction?


A

Debit Repair Expense Rs45, debit Supplies Rs25, debit Office Expense Rs40 and credit Cash Rs110

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B

Debit Repair Expense Rs45, debit Supplies Rs25, debit Office Expense Rs40 and credit Petty Cash Rs110

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C

Debit Repair Expense Rs45, debit Supplies Rs25, debit Office Expense Rs40 and credit Cash Rs110, credit CashShort and Over Rs15

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D

Debit Repair Expense Rs45, debit Supplies Rs25, debit Office Expense Rs40 and debit Cash Short and OverRs15, and credit Cash Rs125

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