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Chen Company established a $ 2 2 5 petty cash fund on January 1 , Year 1 . Required:Is the establishment of the petty cash

Chen Company established a $

225

petty cash fund on January

1,

Year

1 .

Required:Is the establishment of the petty cash fund an asset source, use, or exchange transaction?Show the establishment of the petty cash fund in the following horizontal statements model:

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