Petty Cash is funded by ______.
A)Writing a check in QuickBooks and cashing it at the bank
B)Making a withdrawal from checking at the bank and recording a Transfer of Funds
C)The owner putting money in the Petty Cash drawer
D)Either A or B

Question

Quizplus · Accepted Answer

Petty cash can be funded by writing a check in QuickBooks (or any accounting software) and cashing it at the bank, or by making a withdrawal from a checking account at the bank and recording it as a transfer of funds. Both methods are common practices for establishing or replenishing a petty cash fund.

Petty Cash Is Funded by ______