Question

In: Accounting

In establishing a petty cash fund, one of the following will be part of the journal...

In establishing a petty cash fund, one of the following will be part of the journal entry

A. Credit to Petty Cash

B. Debit to Cash

C. Credit to Accounts Payable

D. None of the above

Solutions

Expert Solution

A. Credit to petty cash

Here when small type of expenses are incurred in business then company make petty cash account and issue the payment through it... So when expenses incurred then it will be debited and petty cash account will be credited

ekkarill92 answered 2 years ago
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