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Author Question: Aspen, Inc. wants to increase the size of its petty cash fund from $350 to $440. Aspen, Inc. will: (Read 117 times)

mspears3

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Aspen, Inc. wants to increase the size of its petty cash fund from $350 to $440. Aspen, Inc. will:
◦ debit Petty Cash $90, credit Cash $90.
◦ debit Petty Cash $440, credit Cash $440.
◦ not be allowed to do this, $440 is too large for a petty cash fund.
◦ debit Cash, $440; credit Petty Cash $440.


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Marked as best answer by mspears3 on Feb 18, 2020

fwbard

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