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Spencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be

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Spencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through petty cash instead of the voucher system. The journal entry to record establishing the accounts: Multiple Choice Debit Car 5200 and Credit Cash 5200 Debit Carth $200 and credit Cach Over and short $200 Debt Petty Cash $200 and credit Cash $200 0 Deti Petty Ca 200. credit Cash and credit Cash Over and Short 525 Debit Cash $200 and creat Potty Cath Over and Short 5200

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