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10. A RM200 petty cash fund has cash of RM20 and receipts of RM170. The journal entry to replenish the account would include a A. debit to Cash for RM180. O B. credit to Petty Cash for RM180 OC. debit to Cash Over and Short for RM10 OD. credit to Cash Over and Short for RM10

10. A RM200 petty cash fund has cash of RM20 and receipts of RM170. The journal entry to replenish the account would include a A. debit to Cash for RM180. O B. credit to Petty Cash for RM180 OC. debit to Cash Over and Short for RM10 OD. credit to Cash Over and Short for RM10

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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10. A RM200 petty cash fund has cash of RM20 and receipts of RM170. The journal entry to replenish the account would include a A. debit to Cash for RM180. B. credit to Petty Cash for RM180 OC. debit to Cash Over and Short for RM10 OD. credit to Cash Over and Short for RM10 11. A debit balance in Cash Over and Short is reported as miscellaneous revenue. O A. True OB. False 12. The principles of internal control do not include physical control. * A. True B. False 13. Notification by the bank that a deposited customer cheque was returned NSF requires that the company record the adjusting entry: Debit Account Receivable and Credit Cash. A. True B. False
Transcribed Image Text:10. A RM200 petty cash fund has cash of RM20 and receipts of RM170. The journal entry to replenish the account would include a A. debit to Cash for RM180. B. credit to Petty Cash for RM180 OC. debit to Cash Over and Short for RM10 OD. credit to Cash Over and Short for RM10 11. A debit balance in Cash Over and Short is reported as miscellaneous revenue. O A. True OB. False 12. The principles of internal control do not include physical control. * A. True B. False 13. Notification by the bank that a deposited customer cheque was returned NSF requires that the company record the adjusting entry: Debit Account Receivable and Credit Cash. A. True B. False
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