Question
A petty cash fund was established with a $350 balance. It currently has cash of $41 and petty cash tickets totaling $309. Which of the
A petty cash fund was established with a $350 balance. It currently has cash of $41 and petty cash tickets totaling $309. Which of the following would be included in the entry to replenish the fund?
A. A debit to Petty Cash for $41
B. A credit to Cash for $41
C. A credit to Petty Cash for $309
D. Debits to various expenses for $309
I already know it is not C, but what is the answer?
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A Guide To Effective Internal Management System Audits Implementing Internal Audits As A Risk Management Tool
Authors: IT Governance Publishing
1st Edition
1849285594, 978-1849285599
