If the float is increased to N1200, how much should the petty cashier receive after period 2?

Use the information above to answer question 9 and 10.

Period 1:
……..Cash to petty cashier………….N1000
……..Petty cashier pays out…………N780

Period 2:
……..Petty cashier pays out…………N840

If the float is increased to N1200, how much should the petty cashier receive after period 2?

A 160

B 840

C 1000

D 1040

Answer is D

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