Leo Company has a petty cash fund of $300. At the end of the month, $42.38 remains
Question:
Debit various expenses, $260.75, and credit Cash for $260.75.
Debit Petty Cash for $257.62, and credit Cash for $257.62.
Debit various expenses, $260.75; credit Cash Over for $3.13, and credit Cash for $257.62.
Debit various expenses, $254.49; debit Cash Short for $3.13, and credit Cash for $257.62.
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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