A company writes a check to replenish a $100 petty cash fund when the fund contains receipts
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Question:
A company writes a check to replenish a $100 petty cash fund when the fund contains receipts of $94 and $4 in cash. In recording the check, the company should?
a. debit Cash Over and Short for $2.
b. debit Petty Cash for $94.
c. credit Cash for $94.
d. credit Petty Cash for $2.
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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