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7. When a petty cash fund is used, which of the following is true? a. The balance of the petty cash fund should be reporting

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7. When a petty cash fund is used, which of the following is true? a. The balance of the petty cash fund should be reporting in the statement of financial position as a long- term investment b. The petty cashier's summary of petty cash payments serves as a journal entry that is posted to the appropriate general ledger account c. The reimbursement of the petty cash fund should be credited to the cash account d. Entries that include a credit to the cash account should be recorded at the time the payments from the petty cash fund are made

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