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[Debit] Petty Cash account [Credit] Cash account
Dr Bank Account Cr Petty Cash Account
Petty Cash is an asset account with a normal Debit balance.
No.
Debit Petty cash account 1400 Credit Cash account 1400
when petty cash falls under the accounts payable umbrella, what guidlines should be set?
No, petty cash is a control account not an expenditure account.
[Debit] Petty Cash account [Credit] Cash account
[Debit] Petty Cash account [Credit] Cash account
Dr Bank Account Cr Petty Cash Account
Dr Bank Account Cr Petty Cash Account
Petty Cash is an asset account with a normal Debit balance.
No.
Debit Petty cash account 1400 Credit Cash account 1400
The imprest account is a petty cash account.
Petty cash is also Cash so like other cash account it is also shown in balance sheet.
There are many different account titles in a general ledger. There are a petty cash, sick leave accrual, petty cash, equipment, buildings, land, and investments.