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A Petty Cash Fund Was Established with a $300 Balance

question 35

Essay

A petty cash fund was established with a $300 balance.It currently has cash of $73 and petty cash tickets totaling $222 for travel expense.Provide the journal entry to record the replenishment of the fund.


Definitions:

Strategic Change

A fundamental shift in the way an organization conducts business, often involving a redesign of structure, strategy, systems, and processes to effectively adapt to new challenges and opportunities.

Generating Alternatives

The process of brainstorming or devising multiple solutions or options to address a particular problem or situation.

Frequent Change

The continuous or rapid modifications in organizational processes, structure, or technology, often in response to shifts in the marketplace or industry.

Incremental Change

Gradual modifications or improvements to processes, products, or services over time, often aiming to maintain competitiveness or adapt to new conditions.

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