Multiple Choice
Z-Mart plans to eliminate a $200 petty cash fund. The current balance in the account includes $45 in receipts and $165 in currency. The entry to eliminate the fund willinclude a:
A) Debit to Cash Short and Over for $10.
B) Credit to Petty Cash for $165.
C) Debit to Miscellaneous Expenses for $35.
D) Debit to Cash for $165.
E) Credit to Cash for $165.
Correct Answer:
Verified
Correct Answer:
Verified
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