Cornerstone Exercise 4-23 (Algorithmic)Petty Cash Fund Murphy, Inc., maintains a balance of $2,400 in its petty cash fund. On December 31, Murphy's petty cash account has a balance of $202. Murphy replenishes the petty cash account to bring it back up to $2,400. Murphy classifies all petty cash transactions as miscellaneous expense. What entry is made to record the replenishment of the petty cash fund?

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.