How much is the cheque written to finish this transaction

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Reference no: EM133326800

Question: AB Ltd. established a petty cash fund for $530. It replenishes the fund at the end of each month when financials are prepared or sooner if required. The company finds that it is replenishing the fund more than once a month so it decides to increase the fund size by 50%. At the time of this decision there are $175 in expense vouchers in the firm, so the firm replenishes and increases the fund size in the same journal entry.

How much is the cheque written to finish this transaction?

Reference no: EM133326800

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