The entry to establish a change fund includes a

Name: The entry to establish a change fund includes a
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The entry to establish a change fund would require a debit to the Change Fund account, as the fund is being established and cash is being withdrawn for that specific purpose. Petty Cash or Cash accounts would not be appropriate choices for this transaction. Moreover, a credit entry to Petty Cash would imply adding cash to the existing fund, which is not the case here.

The Entry to Establish a Change Fund Includes a