A petty cash fund was established for $250 dollars on November 1st. On November 30th, the...

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A petty cash fund was established for $250 dollars on November 1st. On November 30th, the petty cash box had $8.75 remaining

business accounting

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Answer 1

Answer #1

The correct answer is

Debit petty cash$250and credit cash$250

Explanation

In order to establish petty cash fund, amount will be transferred to petty cash fund and cash will be credited and petty cash will be debited by $ 250

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Answer 2

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