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What is the first step in establishing a petty cash fund?
What journal entry is made when replenishing a petty cash fund?
If a petty cash fund shows \$80 in receipts but only \$75 in cash, how should the discrepancy be recorded?
Which internal control measure is most effective in preventing misuse of petty cash funds?
How would you record the establishment of a \$200 petty cash fund in the accounting journal?
If a petty cash fund is used to pay \$40 for postage, \$30 for supplies, and \$20 for delivery, what is the total amount to be recorded as expenses?
Why are pre-numbered petty cash vouchers important for internal control?
If a petty cash fund is short by \$3, what account should be used to reconcile the discrepancy?
What is the correct journal entry for replenishing a petty cash fund with \$75 spent on supplies and \$25 on delivery?
How do petty cash transactions affect a company's financial statements?