Island Equipment wants to increase the size of its petty cash fund from $350 to $440. Island Equipment will:
A) not be allowed to do this, $440 is too large for a petty cash fund.
B) debit Cash, $440; credit Petty Cash $440.
C) debit Petty Cash $440, credit Cash $440.
D) debit Petty Cash $90, credit Cash $90.
Correct Answer:
Verified
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