The debit recorded in the journal to establish the petty cash fund is to:
A) Cash.
B) Petty Cash.
C) Accounts Receivable.
D) Accounts Payable.

Name: The debit recorded in the journal to establish the petty cash fund is to: A) Cash. B) Petty Cash. C) Accounts Receivable. D) Accounts Payable.
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Question

Quizplus · Accepted Answer

When establishing a petty cash fund, the company debits the Petty Cash account to increase it, reflecting the cash set aside for small, incidental expenses.

The Debit Recorded in the Journal to Establish the Petty