Exam 20 A company wants to decrease its $200.00 petty cash fund to $50.00 The entry...

Question

Question

Answer 1

Answer #1

The correct entry to decrease the petty cash fund to $5,000 is:

Debit to cash $15,00 Credit petty cash $5,000

Conclusion:

Henc the correct option is "Debit to cash $15,00 Credit petty cash $5,000"

Answer 2

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