Petty Cash

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If there were cash overage, the petty cash account would be debited and the cash over and short account would be credited In this case, the expense balance

Petty cash may only be used for university business expenses and must meet every test applied to purchases made through the more formal process It cannot be Petty cash reconciliation is the process by which the business ensures that its cash funds are being spent according to internal guidelines and policies and

captcha buzz-ultimate earning Petty cash is a current asset and should be listed as a debit on the balance sheet When first funding a petty cash account, the accountant Helpful Tools · 1 No