ACC 291T Week 3 Discussion | University of Phoenix | Assignment Help
Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to other students.
Due Day 3
You oversee the $250 petty cash for your company. When an employee needs a special item that is not in inventory, you take money from petty cash to purchase that item.
One day, you are short on cash for lunch. You decide to borrow $10 each day for the next 3 days until payday for a total of $30 from petty cash. After payday, you do not have enough to repay petty cash, so you decide to record a cash short/over expense of $30.
Respond to the following in a minimum of 175 words:
· Since this is the first time you have ever done this, is this a problem?
· If so, what steps should be taken to fix this problem? If not, why not?
Due Day 7
Reply to at least 2 of your classmates. Be constructive and professional in your responses.