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Ferguson Co. has a $210 petty cash fund. At the end of the first month the accumulated receipts represent $44 for delivery expenses, $131 for
Ferguson Co. has a $210 petty cash fund. At the end of the first month the accumulated receipts represent $44 for delivery expenses, $131 for merchandise inventory, and $13 for miscellaneous expenses. The fund has a balance of $22. The journal entry to record the reimbursement of the account includes a: debit to Petty Cash for $210. credit to Inventory for $131. credit to Cash for $188. debit to cash over and short for $22. credit to Cash over and short for $22
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