Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A company writes a replenishment cheque for the petty cash fund and records the entry with a credit of $1 to account that will appear
A company writes a replenishment cheque for the petty cash fund and records the entry with a credit of $1 to account that will appear as miscellaneous revenue. What is most likely the reasonsing for this credit? O the cash count was higher than the cash receipts by $1 O the cash count was higher than the cash receipts by $.50 the cash count was lower than the amount of cash receipts by $1 Othere was a cash receipt for a deposit of $1 into the petty cash fund
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started