When a petty cash fund is in use:
A) Expenses paid with petty cash are recorded when the fund is replenished.
B) Petty Cash is debited when funds are replenished.
C) Petty Cash is credited when funds are replenished.
D) Expenses are not recorded.
E) Cash is debited when funds are replenished.

Question

Quizplus · Accepted Answer

When a petty cash fund is replenished, the expenses paid out of the fund are recorded, and the cash account is credited to reflect the outflow of cash.

When a Petty Cash Fund Is in Use