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A: Petty cash: Petty cash fund is founded to pay little bills like office supplies, postage etcetera.…
3. "I received a big sum of money with the casino, so I made a decision to cash out my chips and leave." This instance demonstrates the act of exchanging casino chips for cash prior to leaving the establishment.
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A: Journal Entry: Journal entry may be the act of preserving data of transactions in an accounting journal.…
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