Answer: c. A debit to Cash Over and Short for $29.00.
Explanation:
Difference between petty cash allocation and petty cash balance and receipts
= 810 - (598.50 + 182.50)
= $29
This $29 will be debited to the Cash Over and Short Account along with Expenses of $598.50. The total of these two will then be credited to the Cash account to replenish the money in Petty Cash back to the allocation of $810.
B) The smallest payment that will keep a credit card holder in good standing with the lender
True.
However, the question should be clear it is a free market where market forces rule, therefore a shortage will cause some consumers to be willing to pay higher prices and producers will see benefit and revenue, thus producing more and resolving the shortage.
Answer:
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Explanation:
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