1 dogco has a petty cash fund of 275 at the end of the, Ask an Expert

Finance

1. DogCo has a petty cash fund of? $275. At the end of the? month, $14.37 remains in the fund along with? $269.43 in various receipts. The journal entry to replenish the fund would be? to:

A. debit Petty Cash for? $260.63 and credit Cash for? $260.63.

B. debit various? expenses, $269.43 and credit Cash for? $269.43.

C. debit various? expenses, $269.43; credit Cash Over for? $8.80 and credit Cash for? $260.63.

D. debit various? expenses, $269.43; debit Cash Short for? $8.80 and credit Cash for? $278.23

2. Valdez Company reported sales of? $343,000; beginning net Accounts Receivable of? $89,000 and ending net Accounts Receivable of? $111,000. Valdez? Company's receivable collection period? (rounded to the nearest? day) is: ?(Use a? 365-day year for? computations.)

A. 118. B. 95. C. 106. D. 79

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92427451

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