Accounting for Cash and Payroll 6. Why is it necessary to make general journal entries for the ledger balance side of the bank reconciliation? 7. a. Why would a business use a Petty Cash Fund? b. Describe the entry needed to establish a $50 Petty Cash Fund and an entry to reimburse the fund. 8. a. What does a debit balance in Cash Short and Over mean? b. Where does a debit balance in Cash Short and Over appear in the financial statements? c. What does a credit balance in Cash Short and Over mean? d. Where does a credit balance in Cash Short and Over appear in the financial statements?

Ing for Cash and Payroll 6. Why is it necessary to make general journal entries for the ledger balance side of the bank reconciliation? 7. a. Why would a business use a Petty Cash Fund? b. Describe the entry needed to establish a s50 Pean? 8. a. What does a debit balance in Cash Short and Oner appear in the final b. Where does a debit balance in Cash Short and Over appear in statements? c. What does a credit balance in Cash Short and Over mean? d. Where does a credit balance in Cash Short and Over appear in the financial statements