Opening a Petty Cash Fund a. Which accounts are debited and credited to establish a

Chapter 22, Problem 4

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QUESTION:

Opening a Petty Cash Fund

a. Which accounts are debited and credited to establish a petty cash fund?

b. To whom is the check to establish a petty cash fund made payable?

Questions & Answers

QUESTION:

Opening a Petty Cash Fund

a. Which accounts are debited and credited to establish a petty cash fund?

b. To whom is the check to establish a petty cash fund made payable?

ANSWER:

                                                                  Step 1 of 3

Petty cash disbursement is used for petty cash payments to settle small expenses. Petty cash disbursement represents all the payments made from the petty cash fund.

                                                                 

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