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The Entry to Replenish the Petty Cash Fund Included a Debit

Question 22

Multiple Choice

The entry to replenish the petty cash fund included a debit to Equipment instead of Supplies for the purchase of supplies.This would cause:

A) petty cash to be overstated.
B) petty cash to be understated.
C) equipment is understated.
D) supplies to be understated.

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