Solved

A Petty Cash Fund Was Established with a $400 Balance

Question 3

Multiple Choice

A petty cash fund was established with a $400 balance.It currently has cash of $43 and petty cash tickets totaling $357.Which of the following would be included in the entry to replenish the fund?


A) a credit to Petty Cash for $357
B) a debit to Petty Cash for $43
C) a credit to Cash for $43
D) a debit to various expenses for $357

Correct Answer:

verifed

Verified

Related Questions