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A Cash Over and Short account is credited when the petty cash fund proves out over* True False The journal entries for a bank

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A Cash Over and Short account is credited when the petty cash fund proves out over* True False The journal entries for a bank reconciliation may include a credit to Interest Revenue for interest collected by the bank on behalf of the company* True False Sales discounts forfeited are reported under both the net and the gross method True False The normal journal entry when writing-off an account receivable under the direct write off method includes a Credit to Accounts Receivable True False The accounting for cash discounts and trade discounts are not the same True False

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