The journal entry for initially creating a Petty Cash Fund is: (A) Debit Cash and Credit Expenses (B) Debit Petty Cash and Credit Expenses (C) Debit Petty Cash fund and Credit Cash (D) Debit Expenses and Credit Cash In the above example (question #5), record the transaction when the initial transaction was made, i.e., when ABC Ltd. Advanced the monies to the customer. (A) Debit Cash $6,000; Credit Notes Receivable $6,000 (B) Debit Cash $6,049.32; Credit Notes Receivable $6,049.32 (C) Debit Notes Receivable $6,000; Credit Cash $6,000 (D) Debit Notes Receivable $6,049.32; Credit Cash $6,049.32 In the above example (question #5), how would you record the transaction at maturity? (A) Debit Cash $6,000; Credit Notes Receivable $6,000 (B) Debit Cash $49.32; Credit Interest Revenue $49.32 (C) Debit Notes Receivable $6,049.32; Credit Cash $6,049.32 (D) Debit Cash $6,049.32; Credit Notes Receivable $6,000; Credit Interest Revenue $49.32 A company's bank statement at Dec.31,2020 showed balance of $16,500 while the Company's book had a balance of $8,800 on same date. It was subsequently discovered that the total outstanding cheques were $8,000 and $1,050 respectively while the total deposits in transit totaled $1,500. Total debit memos amounted to $50. Interest earned was $200 What is the Bank Reconciled balance? (A) $ 9,050 (B) $ 7,700 (C) $ 8,950 (D) $ 9,000 Sanjay, a customer of Best Buy decided to pay $800 after the account was written off as bad debt. Record the collection of the account. (A) Debit Cash $800; Credit A/R $800 (B) Debit A/R $800; Credit Cash $800 (C) Debit A/R $800; Credit AFDA $800 (D) Debit Cash $800; Credit AFDA $800