Meng Company maintains a $345 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $89 for office supplies, $178 for merchandise inventory, and $29 for miscellaneous expe cash shortage of $7. Based on this information, the amount of cash in the fund before the replenishment is Multiple Choice O O O $345. $296. $49. $56.

Meng Company maintains a $345 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $89 for office supplies, $178 for merchandise inventory, and $29 for miscellaneous expe cash shortage of $7. Based on this information, the amount of cash in the fund before the replenishment is Multiple Choice O O O $345. $296. $49. $56.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 1EB: Record the following transactions: A. Started a petty cash fund in the amount of $575 B. Replenished...

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