A company set-up a petty cash fund with $800. The disbursements are as follows:

Office Supplies

$300

Shipping

50

Postage

30

Delivery Expense

$350

Answer the question below based on the above information.

To create the fund, which account should be credited?

Question 1 options:

Postage

Supplies

Petty Cash

Cash at Bank

Question

Business

Ellie Mcclure

17 July, 20:43

A company set-up a petty cash fund with $800. The disbursements are as follows:

Office Supplies

$300

Shipping

50

Postage

30

Delivery Expense

$350

Answer the question below based on the above information.

To create the fund, which account should be credited?

Question 1 options:

Postage

Supplies

Petty Cash

Cash at Bank

+4

Answers (1)

Know the Answer?

Jakobe Stafford · Answer 1

Petty Cash

Explanation:

The fundamental principle of accounting is credit the giver and debit the receiver. In this instance petty cash is giving out money to Office Supplies, Shipping, Postage and Delivery expense