Question: A company wants to decrease its $200.00 petty cash fund to $100.00. The entry to reduce the fund is:Multiple ChoiceDebit Petty Cash $77.00; credit Cash

A company wants to decrease its $200.00 petty cash fund to $100.00. The entry to reduce the fund is:Multiple ChoiceDebit Petty Cash $77.00; credit Cash $77.00.Debit Petty Cash for $100.00; debit Cash Over and Short $177.00; credit Cash $200.00.Debit Miscellaneous Expenses $23.00; credit Cash $23.00.Prever7 of 20Next

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