Multiple Choice
If a petty cash fund is established in the amount of ₤250, and contains ₤145 in cash and ₤100 in receipts for disbursements when it is replenished, the journal entry to record replenishment should include credits to which of the following accounts?
A) Petty Cash, ₤100.
B) Petty Cash, ₤105.
C) Cash, ₤100; Cash Over and Short, ₤5.
D) Cash, ₤105.
Correct Answer:
Verified
Correct Answer:
Verified
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