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The Entry to Replenish the Petty Cash Fund Included a Debit

Question 46

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 to be understated.
D) Supplies to be understated.

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