Multiple Choice
The petty cash fund at Bryan Company has a designated balance of $300.The fund currently holds $133 in cash and $172 in petty cash tickets.Based on this information,which of the following statements is correct?
A) The total of the cash on hand plus petty cash tickets is more than the designated fund balance.
B) A shortage of $5 exists.
C) To replenish the petty cash fund,the company must write a check,payable to Petty Cash,for $172.
D) The petty cash fund custodian must locate the $5 discrepancy.
Correct Answer:
Verified
Correct Answer:
Verified
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