Multiple Choice
An entity's petty cash expenditure in the month is £135. If management decide that the closing balance in the petty cash should be reduced from £200 to £150, what would the double entry be to reimburse the petty cash book at the end of the month (assume an imprest system) ?
A) Dr. Petty cash account £50
B) Cr. Bank account £50
C) Dr. Bank account £50
D) Cr. Petty cash account £50
E) Dr. Bank account £85
F) Cr. Petty cash account £85
G) Dr. Petty cash account £85
H) Cr. Bank account £85
Correct Answer:
Verified
Related Questions
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents