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    Business
  3. Study Set
    Financial and Managerial Accounting
  4. Exam
    Exam 7: Internal Control and Cash
  5. Question
    Jupiter Service Company Decides to Increase the Amount of the Petty
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Jupiter Service Company Decides to Increase the Amount of the Petty

Question 26

Question 26

True/False

Jupiter Service Company decides to increase the amount of the petty cash fund from $500 to $600.A journal entry must be made to debit the Cash account and credit the Petty Cash account for $100.

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