If the drawer and the payee of a check have accounts at the same bank, the check is called an "on them" item when it is presented for payment by the payee

The main expense of a merchandiser is usually ________

A) cost of goods sold B) current assets C) selling and administrative expenses D) production overhead

A company has a petty cash fund amount of $300. When replenished, it has petty cash receipts of $33 for gas expense, $31 for postage expense, $11 for supplies expense, and $12 for miscellaneous expenses. Assume the cash balance is not over or short. In the journal entry, Cash would be credited for ________.

A) $87 B) $76 C) $64 D) $75