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Tofino Enterprises Has a Petty Cash Fund of $275

question 121

Essay

Tofino Enterprises has a petty cash fund of $275. At the end of June, $14.37 remains in the fund along with $269.43 in various receipts. The journal entry to replenish the fund would be:


Definitions:

Bakes

The process of cooking food by dry heat, especially in an oven, often related to pastries, bread, and cakes.

Average Fixed Cost

The constant expenses linked to manufacturing, when divided by the volume of goods produced, reduce as the amount of production expands.

Mixers

Devices used to blend or mix ingredients together in cooking or industrial processes.

Average Fixed Cost

When you divide the unchanging production costs by the total units produced, this value diminishes as the level of production goes up.

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