A business operates an imprest system for petty cash. The imprest amount is $400. At the end of the month, $30 has been received for private phone calls and there are vouchers for expenditure of $205. There is an IOU for $25. What is the physical amount of cash left in petty cash prior to reimbursement? A $400 B $200 C $225 D $170
A business operates an imprest system for petty cash. The imprest amount is $400. At the end of the month, $30 has been received for private phone calls and there are vouchers for expenditure of $205. There is an IOU for $25. What is the physical amount of cash left in petty cash prior to reimbursement? A $400 B $200 C $225 D $170
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 6SEB
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A business operates an imprest system for petty cash. The imprest amount is $400.
At the end of the month, $30 has been received for private phone calls and there are vouchers for
expenditure of $205. There is an IOU for $25. What is the physical amount of cash left in petty cash prior to
reimbursement?
A $400
B $200
C $225
D $170
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