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fast please ABC Company maintains a petty cash fund for small expenditures. The following transactions occurred during May 2020. May 01 Established petty cash fund
fast please
ABC Company maintains a petty cash fund for small expenditures. The following transactions occurred during May 2020. May 01 Established petty cash fund by writing a check for BD150. May 15 Replenished the petty cash fund by writing a check for BD144. On this date the fund consisted of BD6 in cash and the following petty cash receipts: , entertainment expense BD110, and miscellaneous expense BD35. May 31 Decreased the amount of the petty cash fund to BD125. Required: Use the previous Information for question 18 to question 21: The necessary journal entry on May 01 for Establishment, petty cash should be: (4 Points) Debit Expenses BD 150 and Credit Pett Cash BD150 Step by Step Solution
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