The entry to establish a petty cash fund includes: O A. O B. A debit to Cash and a credit to Cash Over and Short. A debit to Cash and a credit to Petty Cash Over and Short. A debit to Petty Cash and a credit to Cash. A debit to Cash and a credit to Petty Cash. С. O D.

The entry to establish a petty cash fund includes: O A. O B. A debit to Cash and a credit to Cash Over and Short. A debit to Cash and a credit to Petty Cash Over and Short. A debit to Petty Cash and a credit to Cash. A debit to Cash and a credit to Petty Cash. С. O D.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 7QY

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

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Accounting for Cash and cash equivalents

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