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Meng Company maintains a $350 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $90 for office supplies, $180 for merchandise inventory, and $30 for miscellaneous expenses. There is a cash shortage of $12. The journal entry to replenish the fund on January 31 is:

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If there is a cash shortage of $12. The journal entry to replenish the fund on January 31 is: Debit Office supplies $90, Debit Merchandise inventory $180, Debit Miscellaneous expenses $30, Debit Cash shortage $12, Credit Petty cash refund $312.

Journal entry

The appropriate journal entry to  replenish the fund on January 31 is:

Meng Company

January 31

Debit Office supplies $90

Debit Merchandise inventory $180

Debit Miscellaneous expenses $30

Debit Cash shortage $12

Credit Petty cash refund $312

(To record petty cash fund  replenishment)

Therefore the entry to replenish the fund on January 31 is: Debit Office supplies $90, Debit Merchandise inventory $180, Debit Miscellaneous expenses $30, Debit Cash shortage $12, Credit Petty cash refund $312.

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