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The Petty Cash Fund is set up at $100 and currently has $90 in receipts and $10 in currency in the box. The replenishment entry

The Petty Cash Fund is set up at $100 and currently has $90 in receipts and $10 in currency in the box.

The replenishment entry will be for $110

None of the above statements are correct

The replenishment entry will be for $10

If an income statement is prepared before booking a replenishment entry than net income will be understated

The receipts are set up as miscellaneous receivables

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