When is a petty cash account debited?
When the fund is established and every time money is spent
When the fund is established and every time it is replenished
When the fund is established and when the size of the float is decreased
Every time money is drawn from the petty cash
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in a petty cash book there is what we call reimbursement(it simply means a process where by the there is a refund of account after the initial deposited amount is been exhausted) pretty cash book is an account that handles small or minor expense in a company. it's mainly to deal with little amount of expenses incurred within the organization, firm or company.
petty cash book deals with expenditure so when ever there is debit transaction it must have to do with reimbursement for further expenses
