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Prepare the entry to record the replenishment

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Question - SAYCO Company's petty cash fund is established in the amount of P2,500. Upon examination of the records, the petty cash funds contains currency and coins in the amount of P1,500 and receipts for disbursements of P950.

When the fund is replenished under the imprest system, prepare the entry to record the replenishment will include a credit to

1. Petty cash fund P750

2. Cash in bank P1,000

3. Cash in bank P950 and cash short and over P50

4. Petty cash fund P1,000

Reference no: EM132945569

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