Multiple Choice
A company wants to decrease its $200 petty cash fund to $175.The entry to reduce the fund is:
A) Debit Cash Over and Short for $25;credit Petty Cash $25.
B) Debit to Cash $25;credit Petty Cash $25.
C) Debit Miscellaneous Expenses $25;credit Cash $25.
D) Debit Petty Cash for $175;debit Cash Over and Short $25;credit Cash $200.
E) Debit Petty Cash $25;credit Cash $25.
Correct Answer:
Verified
Correct Answer:
Verified
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