Asked by Bridget Parks on May 26, 2024
Verified
________ Bought coffee and rolls for a business meeting and used petty cash
A) New check written
B) Recorded in the general journal
C) Recorded in auxiliary petty cash record
D) Petty cash voucher prepared
Auxiliary Petty Cash Record
A detailed record used alongside the main petty cash fund to track minor business expenditures.
Petty Cash Voucher
A document used to record and manage small, immediate cash expenses.
- Discern the importance of accessory petty cash registries and vouchers in the management of petty cash.
Verified Answer
SA
Sasha AliouallaJun 01, 2024
Final Answer :
C,D
Explanation :
The use of petty cash for buying coffee and rolls for a business meeting would be recorded in an auxiliary petty cash record to keep track of petty cash transactions. Additionally, a petty cash voucher would be prepared to document the specific use of the funds, ensuring accountability and proper record-keeping.
Learning Objectives
- Discern the importance of accessory petty cash registries and vouchers in the management of petty cash.
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