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Use the Following Information Regarding Sanders Company to Answer the Question

question 38

Short Answer

Use the following information regarding Sanders Company to answer the question below.
1) Established a petty cash fund in the amount of $200.
2) Reimbursed the petty cash fund given the following petty cash fund disbursements:
A) Payment for postage, $20.
B) Payment for supplies, $70.
3) Increased the petty cash fund by $100.
4) Cash over at the end of the first period was $5.
The entry to record the cash over in the petty cash fund would include a
A)credit to the Cash account for $5.
B)credit to the Petty Cash account for $5.
C)debit to Cash Short or Over for $5.
D)credit to Cash Short or Over for $5.

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Definitions:

Youthful Offenders

Individuals, typically under the age of 18, who have been convicted of a crime, emphasizing the need for a rehabilitation approach due to their age.

Mann Act

A U.S. federal law passed in 1910, formally known as the White-Slave Traffic Act, which made it a felony to engage in interstate or foreign commerce transport of "any woman or girl for the purpose of prostitution or debauchery, or for any other immoral purpose."

Immoral Purposes

Activities or intentions that are considered to be morally wrong or unethical by societal standards.

Congress

The bicameral legislature of the federal government of the United States consisting of two houses: the Senate and the House of Representatives.