Question
A company plans to decrease a $1,600 petty cash fund to $600.0. The current balance in the account includes $360.0 in receipts and $1,320.0 in
| A company plans to decrease a $1,600 petty cash fund to $600.0. The current balance in the account includes $360.0 in receipts and $1,320.0 in currency. The entry to reduce the fund will include a: |
Multiple Choice
Debit to Cash for $720.
Debit to Cash Short and Over for $80.
Credit to Petty Cash for $1,320.
Credit to Cash for $720.
Debit to Miscellaneous Expenses for $280.
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Trends In Financial Decision Making
Authors: Cees Van Dam
1978 Edition
9020706926, 978-9020706925
