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How do record discrepancy in cash short and over account

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Reference no: EM132719663

Journalize the entries to record the following:

March 1 Established a petty cash fund of $518.

March 31 The amount of cash in the petty cash fund is now $383. The fund is replenished based on the following receipts: office supplies, $42 selling expenses, $100.

Problem 1: Record any discrepancy in the cash short and over account.

Reference no: EM132719663

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