23. A company wishes to accumulate $200,000 by May 1, 20X9 by making quarterly deposits beginning May 1, 20X1 to afund paying 8% interest per year compounded quarterly. What is the required amount of each deposi (a) $4,433 (b) $8,355. (c) $4,522. (d) $8,522 t? 24. Which of the following is not true? (a) The imprest petty cash system in effect adheres to the rule of disbursement by check. Entries are made to the Petty Cash account only to increase or decrease the size of the fund or to adjust the balance if not replenished at year end. The Petty Cash account is debited when the fund is replenished. If the total of the petty cash remaining and the total of all receipts for disbursements of petty cash do not equal the balance of the Petty Cash account, the difference should be recorded to the Cash Short and Over account. (b) (c) (d) Under the allowance method of recognizing uncollectible accounts, the entry to write off an uncollectible account: (a) Increases the allowance for uncollectible accounts. (b) Has no effect on net income. (c) Decreases net income. (d) Has no effect on the allowance for uncollectible accounts. 25