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1. The Petty Cash Fund is set up at $100 and currently has $90 in receipts and $10 in currency in the box. O If
1. The Petty Cash Fund is set up at $100 and currently has $90 in receipts and $10 in currency in the box. O If an income statement is prepared before booking a replenishment entry than net income will be understated The receipts are set up as miscellaneous receivables The replenishment entry will be for $110 The replenishment entry will be for $10 None of the above statements are correct
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