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Gandolf Company established a $250 petty cash fund on January 1,2020 . On March 1, 2020 the fund contained $160 in receipt vouchers for miscellaneous
Gandolf Company established a $250 petty cash fund on January 1,2020 . On March 1, 2020 the fund contained $160 in receipt vouchers for miscellaneous expenses and $88 in cash. The entries necessary to replenish the petty cash fund will a) increase assets by $250. b) decrease equity by $160. c) decrease assets by $162. d) increase equity by $162
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