On April 1, Blake Sales decides to establish a $275.00 Petty Cash Account to relieve the burden on Accounting.
a Identify and analyze the effects of this transaction.
b On April 15th, the petty cash fund has receipts for mail and postage of $124.75, contributions and donations of
$53.25, meals and entertainment of $63.85 and $32.75 in cash. Identify and analyze the transaction for the replenishment of the fund.
c On April 16th, Blake Sales decides to increase petty cash to $400.00. Identify and analyze the effects of this transaction.

Question

Quizplus · Accepted Answer

The Answer of On April 1, Blake Sales decides to establish a $275.00 Petty Cash Account to relieve the burden on Accounting.
a Identify and analyze the effects of this transaction.
b On April 15th, the petty cash fund has receipts for mail and postage of $124.75, contributions and donations of
$53.25, meals and entertainment of $63.85 and $32.75 in cash. Identify and analyze the transaction for the replenishment of the fund.
c On April 16th, Blake Sales decides to increase petty cash to $400.00. Identify and analyze the effects of this transaction.

On April 1, Blake Sales Decides to Establish a $275