When the petty cash fund is replenished, the petty cash account is credited for the total of all expenditures made since the fund was last replenished.

Question

Quizplus · Accepted Answer

When the petty cash fund is replenished, the expenses are recorded by debiting the appropriate expense accounts and crediting cash or the bank account. The petty cash account itself is a type of asset account and remains constant unless the fund size is changed.

When the Petty Cash Fund Is Replenished, the Petty Cash