Question
If a petty cash fund is established in the amount of $400, and contains $240 in cash and $170 in receipts for disbursements when
If a petty cash fund is established in the amount of $400, and contains $240 in cash and $170 in receipts for disbursements when it is replenished, the journal entry to replenish the petty cash fund would include; Select one: O Credit Cash for $170. O Credit Cash Over and Short for $10. O Debit Cash for $160. O Credit Petty Cash for $160.
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Answer Option B As evident from the given sum the Petty Cash Balance is ...Get Instant Access to Expert-Tailored Solutions
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Principles of Accounting
Authors: Needles, Powers, crosson
11th Edition
1439037744, 978-1133626985, 978-1439037744
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