Question
A business decides to start up a Petty Cash fund so that they have money on hand to pay for postage when running to
A business decides to start up a Petty Cash fund so that they have money on hand to pay for postage when running to the post office. Which of the entries below would represent the starting/formation of the petty cash fund? Debit Petty Cash; Credit Cash Debit Postage Expense; Credit Petty Cash Debit Cash; Credit Petty Cash Debit Postage Expense; Credit Cash Debit Cash; Credit Postage Expense
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Fundamental Accounting Principles
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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