Exercise 6-13A Effect of establishing a petty cash fund LO 6-4 Chen Company established a $925 petty cash fund on January 1, Year 1. Required a. Is the establishment of the petty cash fund an asset source, use, or exchange transaction? b. Show 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. Complete this question by entering your answers in the tabs below. Required A Required B Required C Is the establishment of the petty cash fund an asset source, use, or exchange transaction? Is the establishment of the petty cash fund an asset source, use, or exchange transaction? < Required A Required B > Required A Required B Required C Show the establishment of the petty cash fund in a horizontal statements model like the following one: (In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and NA for not affected. Enter any decreases to account balances with a minus sign.) CHEN COMPANY Statements Model Assets Liabilities Stockholders' Equity Cash Revenue Expense = Net Income Flow Cash + Petty Cash < Required A Required C > Required A Required B Required C Record the establishment of the fund in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record entry for petty cash fund. Note: Enter debits before credits. Date Jan 01 General Journal Debit Credit Record entry Clear entry View general journal < Required B Required C