The petty cash fund has a current balance of $100. Based on activity in the fund, it is determined that the balance needs to be changed to $700. Which journal entry is needed to make this change?

A) Debit the Petty Cash account and credit the Cash account for $700.
B) No journal entry is needed because this change only involves cash.
C) Debit the Petty Cash account and credit the Cash account for $600.
D) Debit the Cash account and credit the Petty Cash account for $600.

C

Business

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