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Pelcher Co. maintains a $400 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $110 for office supplies, $140 for merchandise inventory, and $70 for miscellaneous expenses. There is a cash overage of $4. The journal entry to replenish the fund on January 31 is:

Dr. Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Dr. Cash over and short, $4; Cr.Petty cash, $324. Dr.Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Dr. Cash over and short, $4; Cr. Cash, $324 Dr. Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Cr. Cash over and short, $4; Cr.Petty cash, $316. Dr.Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Cr. Cash over and short, $4; Cr. Cash, $316. Dr. Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Dr.Cash over and short, $4; Cr.Petty cash, $400.

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Answer:

Dr.Office Supplies, $110;

Dr. Merchandise inventory, $140;

Dr. Miscellaneous expenses, $70;

Cr. Cash over and short, $4;

Cr. Cash, $316.

Explanation:

Dr.Office Supplies, $110;

Dr. Merchandise inventory, $140;

Dr. Miscellaneous expenses, $70;

Cr. Cash over and short, $4;

Cr. Cash, $316.

An overage in the Petty cash fund is recorded with a credit to Cash and short over in the Petty cash fund reimbursing entry.

Sometimes the petty cashier fails to get a receipt for payments or overpay for the amount due. When this occurs and the fund is later reimbursed the petty cash payments report plus the cash over will not total to the fund balance

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