(a) Identify the three activities that pertain to a petty cash fund, and indicate an internal control...
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(a) Identify the three activities that pertain to a petty cash fund, and indicate an internal control principle that is applicable to each activity.
(b) When are journal entries required in the operation of a petty cash fund?
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Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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