Table 8-1
The petty cash fund had the following petty cash ticket:
-Refer to Table 8-1. Assume that the business has established a petty cash fund in the amount of $250 and that the amount of cash in the fund at the time of replenishment is $20. The business uses a perpetual inventory system.
Prepare the entry to replenish the fund on February 28.
Correct Answer:
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