Macon Timber Company established a ($ 150) petty cash fund on January 1, 2012. Required a. Is
Question:
Macon Timber Company established a \(\$ 150\) petty cash fund on January 1, 2012.
Required
a. Is the establishment of the petty cash fund an asset source, use, or exchange transaction?
b. Record the establishment of the petty cash fund in a horizontal statements model like the following one:
c. Record the establishment of the fund in general journal format.
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Kirti Kaushal
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