Business Studies, asked by vladutu3745, 9 months ago

What entry is made to establish a petty cash book

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Answered by viny10
32

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The petty cash journal entry is a debit to the petty cash account and a credit to the cash account. The petty cash custodian refills the petty cash drawer or box, which should now contain the original amount of cash that was designated for the fund. The cashier creates a journal entry to record the petty cash receipts.

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