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petty cash

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

A current asset account that represents an amount of cash for making small disbursements for postage due, supplies, etc.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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