Question: A company wants to decrease its $ 2 0 0 . 0 0 petty cash fund to $ 1 5 0 . 0 0 .

A company wants to decrease its $200.00 petty cash fund to $150.00. The entry to reduce the fund is:
Multiple Choice
Debit Cash Over and Short for $12.25; credit Petty Cash $12.25.
Debit Miscellaneous Expenses $26.00; credit Cash $26.00.
Debit Petty Cash for $150.00; debit Cash Over and Short $174.00; credit Cash $200.00.
Debit Petty Cash $24.00; credit Cash $24.00.
Debit to Cash $50.00; credit Petty Cash $50.00.

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