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The Petty Cash account was established for $450. Later, the receipts totaled $395.17. The amount of cash remaining was $54.83. To reimburse Petty Cash you

The Petty Cash account was established for $450. Later, the receipts totaled $395.17. The amount of cash remaining was $54.83. To reimburse Petty Cash you debit each of the expenses and credit cash for $395.17. True or False

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