Hill Company purchased stamps for $46 using the petty cash fund.What journal entry is required?
A) Debit Postage Expense for $46 and credit Cash for $46.
B) Debit Accounts Payable for $46 and credit Cash for $46.
C) Debit Petty Cash for $46 and credit Cash for $46.
D) No journal entry is required until the petty cash fund is replenished at the end of the month.
Correct Answer:
Verified
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