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A Petty Cash Fund Was Established with a $390 Balance

Question 42

Multiple Choice

A petty cash fund was established with a $390 balance.It currently has cash of $45 and petty cash tickets totaling $345.Which of the following would be included in the entry to replenish the fund?


A) a credit to Petty Cash for $345
B) a debit to Petty Cash for $45
C) a credit to Cash for $45
D) a debit to various expenses for $345

Correct Answer:

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