On January 1, Wong Company established a petty cash fund of $300. The journal entry to record the replenishment of the fund for $260 at the end of January includes:
A) A debit to Petty Cash of $260.
B) A credit to Cash of $260.
C) A debit to various expenses of $40.
D) No journal entry; an entry is needed only when the petty cash fund is created or discontinued.
Correct Answer:
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