Meng Co. maintains a $300 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $80 for office supplies, $160 for merchandise inventory, and $20 for miscellaneous expenses. There is a cash shortage of $8.
Based on this information, the amount of cash in the fund before the replenishment is:
a) $300. b) $260. c) $40. d) $48. e) $32.
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