Rapid Delivery Services establishes a Change Fund of $200. At the end of the day, Rapid Delivery Services had $1,230 on hand. The journal entry to record the day’s receipts would include a: a) Debit to Change Fund. b) Credit to Income from Services. c) Debit to Petty Cash Fund. d) None of the answers listed.
Rapid Delivery Services establishes a Change Fund of $200. At the end of the day, Rapid Delivery Services had $1,230 on hand. The journal entry to record the day’s receipts would include a: a) Debit to Change Fund. b) Credit to Income from Services. c) Debit to Petty Cash Fund. d) None of the answers listed.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 4CE
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Rapid Delivery Services establishes a Change Fund of $200. At the end of the day, Rapid
Delivery Services had $1,230 on hand. The
include a:
a) Debit to Change Fund.
b) Credit to Income from Services.
c) Debit to Petty Cash Fund.
d) None of the answers listed.
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