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

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