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On March 1, Hsu Imports established a petty cash fund of $325

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June 7th, 2024

On March 1, Hsu Imports established a petty cash fund of $325. The journal entry to record the replenishment of the fund for $290 at the end of March includes:A debit to Petty Cash of $290.A credit to Cash of $290.A debit to various expense of $35.No journal entry is required; journal entries are only needed when the petty cash fund is created or discontinued.

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