Multiple Choice
Use the following information regarding Larson Company to answer the question below.
1) Established a petty cash fund in the amount of $250.
2) Reimbursed the petty cash fund given the following petty cash fund disbursements:
A.Payment for postage,$20.
B.Payment for supplies,$70.
3) Increased the petty cash fund to $300.
4) Cash over at the end of the first period was $5.
-The entry to establish the petty cash fund would include a
A) debit to the Cash account for $250.
B) debit to the Petty Cash account for $250.
C) memorandum entry only in the ledger.
D) credit to the Petty Cash account for $250.
Correct Answer:

Verified
Correct Answer:
Verified
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