The check written to establish the petty cash fund is entered in the journal by

Question

Quizplus · Accepted Answer

The check written to establish the petty cash fund is used to transfer a certain amount of cash from the general cash account to the petty cash account. This means that the cash account is being credited and the petty cash account is being debited. Therefore, the entry would be to debit Petty Cash and credit Cash. Thus, the correct answer is D, debiting Petty Cash and crediting Cash.

The Check Written to Establish the Petty Cash Fund Is