Island Equipment wants to increase the size of its petty cash fund from $350 to $400.Island Equipment will:
A) not be allowed to do this,$400 is too large for a petty cash fund.
B) debit Cash,$400;credit Petty Cash $400.
C) debit Petty Cash $400,credit Cash $400.
D) debit Petty Cash $50,credit Cash $50.
Correct Answer:
Verified
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