Notice that the petty cash account is debited or credited only when the fund is established or when

Notice that the petty cash account is debited or credited only when the fund is established or when

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Notice that the petty cash account is debited or credited only when the fund is established or when  the size of the fund is increased or decreased, not when the fund is replenished. If the voucher amounts do not equal the cash needed to replenish the fund, the difference is  recorded in an account named  cash over and short . This account is debited when there is a cash  shortage and credited when there is a cash overage. Cash over and short appears on the income 
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This note was uploaded on 11/14/2011 for the course ACCT 1310 taught by Professor Staff during the Fall '10 term at Texas State.

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