Asked by Svetlana Stetsenko on Jun 20, 2024

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A company established a petty cash fund in February of the current year and experienced the following transactions affecting the fund during February:
Prepare the journal entries to establish the find, reimburse the fund and to reduce its amount on February 28.
A company established a petty cash fund in February of the current year and experienced the following transactions affecting the fund during February: Prepare the journal entries to establish the find, reimburse the fund and to reduce its amount on February 28.

Petty Cash Fund

A small amount of cash kept on hand for minor and incidental expenses.

  • Gain an understanding of setting up, refilling, and adjusting small cash holdings.
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Alexa RolonJun 21, 2024
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