sophie3
Level 1

How do I make an entry for petty cash that is returned back to the petty cash box? What account would I use?

For example, an employee was give $500, so I entered $500 withdrawal from the checking account and deposit to petty cash, then I entered all her receipts, but how do I account for the $130 she returned to us? It seems like it would be an asset account. Cash on Hand or something like that?

Solved