The petty cash fund had an initial imprest balance of $230

Sociology May 19, 2021

The petty cash fund had an initial imprest balance of $230. It currently has $15 in cash, $3 in miscellaneous petty cash tickets, and an additional $207 in specific petty cash tickets. The debit to Cash Short & Over would be

Expert Solution

Answer:

Cash short & over = 5

Step-by-step explanation

Petty cash fund balance 230

Less cash on hand 15

Less expenses 210

Cash short & over = 5

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