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AB Ltd. established a petty cash fund for $770. It replenishes the fund at the end of each month when financials are prepared or
AB Ltd. established a petty cash fund for $770. It replenishes the fund at the end of each month when financials are prepared or sooner if required. The company finds that it is replenishing the fund more than once a month so it decides to increase the fund size by 50%. At the time of this decision there are $295 in expense vouchers in the firm, so the firm replenishes and increases the fund size in the same journal entry. Required: How much is the cheque written to complete this transaction? $
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