Stella Company wants to increase the size of its petty cash fund from $100 to $260, the journal entry will be:

Name: Stella Company wants to increase the size of its petty cash fund from $100 to $260, the journal entry will be:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

To increase the petty cash fund from $100 to $260, the company needs to add $160 to the existing fund. This is done by debiting Petty Cash and crediting Cash for $160, reflecting the movement of cash into the petty cash fund.

Stella Company Wants to Increase the Size of Its Petty