Question No 8:
B operates the imprest system for petty cash. At 1 July there was a float of $150, but it was decided to increase this to $200 from 1 August onwards. During July, the petty cashier received $25 from staff for using the photocopier and a cheque for $90 was cashed for an employee. In July, cheques were drawn for $500 for petty cash.
What was the total expense paid from petty cash in July?
A. $385.
B. $435.
C. $515.
D. $615.
Answer: A
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