A CHF110 Petty Cash Fund Has Cash of CHF27 and Receipts

question 73

Multiple Choice

A CHF110 petty cash fund has cash of CHF27 and receipts of CHF80.The journal entry to replenish the account would include a

• A)debit to Cash for CHF80.
• B)credit to Petty Cash for CHF110.
• C)debit to Cash Over and Short for CHF3.
• D)credit to cash for CHF80.

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Definitions:

Principal Directly

Pertains to actions or decisions made by the main party involved in a contract or legal agreement, without intermediaries.

Negligent

Failing to take appropriate care in doing something, which results in damage or harm to another party.

Anticipated Injury

Anticipated injury refers to harm or damage that is expected or foreseen as a result of certain actions or omissions.

Good Samaritan Law

Good Samaritan Laws are legal protections designed to encourage people to offer assistance to others in distress by granting them immunity from certain forms of legal liability.