Current Attempt in Progress Blossom Ltd. designated Alexa Kidd as petty cash custodian and established a petty cash fund of $420. The fund was reimbursed when the cash in the fund was at $64. Petty cash receipts show that funds were disbursed for $160 of supplies and $195 of freight charges on inventory purchases. Prepare the entries heeded to record the following independent transactions. (a) Assume that Blossom decides to increase the size of the petty cash fund to $590 immediately after the reimbursement. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries)

Current Attempt in Progress Blossom Ltd. designated Alexa Kidd as petty cash custodian and established a petty cash fund of $420. The fund was reimbursed when the cash in the fund was at $64. Petty cash receipts show that funds were disbursed for $160 of supplies and $195 of freight charges on inventory purchases. Prepare the entries heeded to record the following independent transactions. (a) Assume that Blossom decides to increase the size of the petty cash fund to $590 immediately after the reimbursement. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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answer in text form please (without image), Note: .Every entry should have narration please
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