Five hundred naria monthly is allowed on an imprest system. The following transactions took place.
Period 1:
Cash advanced to petty cashier ₦500
Petty cashier paid out: stamp ₦200
Newspaper ₦250
Period 2:
Cash to petty cashier ₦450
Cashier paid for writing materials ₦350
What was the balance of cash with the petty cashier at a the end of period 1?
Options
A) ₦50 >>>>>>>>>>
B) ₦200
C) ₦300
D) ₦450
The correct answer is A.
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