Question
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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Business Law
Authors: Henry Cheeseman
10th Edition
0134728785, 978-0134728780
