question archive The entry to record the establishment of a petty cash fund would include a? _______

The entry to record the establishment of a petty cash fund would include a? _______

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The entry to record the establishment of a petty cash fund would include a? _______.

  1. credit to various expenses and assets
  2. credit to Petty Cash
  3. debit to Cash in Bank
  4. debit to Petty Cash

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4. Debit to petty cash, as per accounting rule this is the initial entry to set up the fund for petty cash where you are segregating a part of your cash to become your petty cash fund.

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