Use the following information regarding Larson Company to answer the question below. 1. Established a petty cash fund in the amount of $250. 2. Reimbursed the petty cash fund given the following petty cash fund disbursements: a. Payment for postage, $20. b. Payment for supplies, $70. 3. Increased the petty cash fund to $300. 4. Cash over at the end of the first period was $5. The entry to
establish the petty cash fund would include a
A) debit to the Cash account for $250.
B) debit to the Petty Cash account for $250.
C) memorandum entry only in the ledger.
D) credit to the Petty Cash account for $250.
B
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