The Petty Cash account is debited when:
A)the account is being replenished.
B)the account balance is being decreased.
C)the account balance is being increased.
D)when the custodian pays for postage from petty cash.

Question

Quizplus · Accepted Answer

The Petty Cash account is debited to increase its balance, typically when the fund is initially established or when additional cash is added to replenish the fund.

The Petty Cash Account Is Debited When