AB Ltd. established a petty cash fund for $1,910. It replenishesthe fund at the end of each month when financials are prepared orsooner if required. The company finds that it is replenishing thefund more than once a month so it decides to increase the fundsize by 50%. At the time of this decision there are$865 in expense vouchers in the firm, so the firm replenishesand increases the fund size in the same journal entry.
Question:
Required: How much is the cheque written to complete thistransaction? $
AB Ltd. established a petty cash fund for $1,910. It replenishes the fund at the end of each month when financials are p
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