Question
If a petty cash fund is established in the amount of $100, and contains $5 in cash and $96 in receipts for disbursements when it
If a petty cash fund is established in the amount of $100, and contains $5 in cash and $96 in receipts for disbursements when it is replenished, the journal entry to record replenishment should include credits to the following accounts
a. Petty Cash, $95.
b. Petty Cash, $96.
c. Cash, $95; Cash Over and Short, $1.
d. Cash, $96.
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Understanding And Auditing IT Systems Volume 2
Authors: Young-Woon Min
2nd Edition
1257758837, 978-1257758838
