Question
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)
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
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
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Accounting A Smart Approach
Authors: Mary Carey, Jane Towers Clark, Cathy Knowles
1st Edition
0199587418, 978-0199587414
