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exercise 3(10pts) The journal entry to open a new petty cash fund includes a debit to the Petty Cash account and a credit to the
exercise 3(10pts)
The journal entry to open a new petty cash fund includes a debit to the Petty Cash account and a credit to the Cash account.(T/F) Before signing a check, the controller or the treasurer should examine the purchase order, the invoice, and the receiving report to determine that the company received the goods and that the company is paying only for the goods received.(T/F) In a bank reconciliation, a NSF check will be an adjustment on the book side of the reconciliation.(T/F)
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