Multiple Choice
Red Pine, Inc. established a $400 petty cash fund several months ago and replenishes it at the end of each month. During the first two weeks of March, $185 was disbursed from the petty cash box for miscellaneous items. If a surprise count of the fund is made on March 15, the petty cash box should contain:
A) $400 cash.
B) $215 cash.
C) $215 cash left for March plus $400 cash for each month since creation of the petty cash fund.
D) $215 cash and receipts for $185 in expenditures.
Correct Answer:
Verified
Correct Answer:
Verified
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