To establish a change fund,Cash should be credited and Change Fund should be debited.

Name: To establish a change fund,Cash should be credited and Change Fund should be debited.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When creating a change fund, a specific amount of cash is set aside for the purpose of making change for customers. In accounting, this is recorded as a debit to the Change Fund account and a credit to the Cash account, as cash is being moved from the general cash balance to the designated change fund.

To Establish a Change Fund,Cash Should Be Credited and Change