Jackson Brothers decided to create a petty cash fund. They estimated that $200 would be needed in the fund. Demonstrate the correct journal entry to create the account by choosing the correct action from those below.Multiple choice question.Cash is debited for $200; Petty Cash is credited for $200.Petty Cash is debited for $200; Cash is credited for $200.Miscellaneous Expense is debited for $200; Cash is credited for $200.Petty Cash is credited for $200; Miscellaneous Expense is debited for $200.

At the end of the month, Brown Co.'s petty cash fund contains $4 in cash and receipts for postage of $50 and delivery expenses of $46. It started out with $100 in the fund at the beginning of the month. Brown Co.'s journal entry to replenish the fund would include which of the following?Multiple choice question.Cash is credited for $96.Petty Cash is debited for $96.Cash is debited for $96.

Select all that applyJackson Co. needs to replenish its petty cash fund. Currently, it contains $11 in cash and receipts for supplies of $40 and delivery expenses of $49. The fund was initially established with $100. Demonstrate the journal entry to replenish the account by choosing the correct actions from those below.Multiple select question.Petty Cash is credited for $89.Petty Cash is debited for $89.Supplies Expense is debited for $40.Delivery Expense is debited for $49.Cash is credited for $89.

At the end of the month, ABC Co.'s petty cash fund contains $4 in cash and receipts for postage of $50 and delivery expenses of $44. It started out with $100 in the fund at the beginning of the month. Demonstrate the journal entry to replenish the account and recognize its shortage by choosing the correct action from those given below.Multiple choice question.Petty Cash is debited for $96.Cash is credited for $98.Cash is credited for $96.Cash is credited for $94.

A company has established a petty cash fund of $200. At the end of the month, there is still $143 of cash left in the fund. Which of the following is TRUE?Select answer from the options belowthe company should abandon the use of a petty cash fund as it is obviously not requiredthe company should not replenish the cash as there is likely enough for next monththe company should replenish the fund as the rules state it needs to have $200 cashthe company should replenish the fund in order to record the costs incurred in the petty cash fund in the accountsSave for LaterSubmit Answer

J. Jackson invested $1,000 in his business in exchange for common stock. Show how to use T-accounts to record this transaction by selecting the correct answer below.Multiple choice question.Credit Cash; debit Common stockDebit Investments; credit Cash.Debit Cash; credit Common stockDebit Cash; credit Revenu