Question

A company wants to decrease its $200.00 petty cash fund to $100.00. The entry to reduce the fund is:

Answer 1

Debit to Cash $100, Credit to Petty cash $100

Step-by-step explanation:

A company wants to decrease its $200.00 petty cash fund to $100.00. The entry to reduce the fund is:

Date Journal Entry Debit Credit

Cash $100

Petty cash $100