Petty cash Flashcards by Alice Power | Brainscape

Q

What is petty cash?

A

Physical cash in the office

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Where will the money come from?

A

The money for petty cash will come from the business cash account

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What will the entries be?

A

A credit to the business cash account and a debit to the petty cash ledger

How well did you know this?

1

Not at all

2

3

4

5

Perfectly