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A Petty Cash Fund Was Established with a $400 Balance

Question 88

Multiple Choice

A petty cash fund was established with a $400 balance.It currently has cash of $41 and petty cash tickets totaling $359.Which of the following would be included in the entry to replenish the fund?


A) a credit to Petty Cash for $359
B) a debit to Petty Cash for $41
C) a credit to Cash for $41
D) a credit to Cash for $359

Correct Answer:

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