If a Petty Cash Fund Is Established in the Amount

question 176

Multiple Choice

If a petty cash fund is established in the amount of $200, and contains $118 in cash and $85 in receipts for disbursements when it is replenished, the journal entry to record replenishment should include credits to which of the following accounts?

• A) Petty Cash, $85.
• B) Petty Cash, $82.
• C) Cash, $82; Cash Over and Short, $3.
• D) Cash, $82.

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Definitions:

Customer Needs

The essential wants and requirements of consumers that drive their purchasing decisions and behaviors, crucial for businesses to identify and satisfy.

Finding A New Customer

The act of identifying and engaging individuals or organizations that could potentially purchase a product or service for the first time.

Keeping One

Ensuring the retention or preservation of a particular thing or situation.

Relationship Selling

Forming meaningful relationships with your customers, which makes them much more likely to return and buy from you again.