Moon Co. decides to establish a petty cash fund with a beginning balance of $250. At the end of the first merchandise inventory, and $35 for miscellaneous expenses. The fund has a balance of $10. The Journal entry to reimburse the fund will include: O Credit to Cash Over and Short for $17 O Credit to Petty Cash for $250 O Debit to Cash Over and Short for $7 O Debit to Cash for $233

Moon Co. decides to establish a petty cash fund with a beginning balance of $250. At the end of the first merchandise inventory, and $35 for miscellaneous expenses. The fund has a balance of $10. The Journal entry to reimburse the fund will include: O Credit to Cash Over and Short for $17 O Credit to Petty Cash for $250 O Debit to Cash Over and Short for $7 O Debit to Cash for $233

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 4EA: Record the following transactions: A. Started a petty cash fund in the amount of $500. B....

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