Asked by ranee

Replenished the $200.00 petty cash fund. Receipts were submitted for the following:office supplies, $35.00, store supplies, $50.00, and miscellaneous, $42.00. A cash count shows $72.00 in the petty cash box.

Do you start with 200.00 , then subtract total receipts(127.00) and have actual amount $73.00 with recorded amount on hand being $72.00.
the cash short(over) would be $1.00
$127.00-1.00=126.00(amount to be replenished)
or do I have it backwards and actually add the $1.00 and the amount to be replenished would be 128.00

am confused

Answers

Answered by Anonymous
john
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john
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