Multiple Choice
If a petty cash fund is established in the amount of $200, and contains $120 in cash and $85 in receipts for disbursements when it is replenished, the journal entry to record replenishment should include credits to the following accounts
A) Petty Cash, $85.
B) Petty Cash, $80.
C) Cash, $80; Cash Over and Short, $5.
D) Cash, $80.
Correct Answer:
Verified
Correct Answer:
Verified
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