When the balance of a petty cash fund is increased,the entry would contain a credit to Petty Cash.

Name: When the balance of a petty cash fund is increased,the entry would contain a credit to Petty Cash.
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Question

Quizplus · Accepted Answer

When the balance of a petty cash fund is increased, the entry typically involves debiting the Petty Cash account and crediting Cash (or the relevant bank account), indicating an increase in the Petty Cash fund, not a credit to Petty Cash.

When the Balance of a Petty Cash Fund Is Increased,the