A petty cash account has an imprest of D28,000. The account has a debit balance of D5,000. How much cash is needed to restore the imprest?
- D33,000
- D28,000
-
D23,000
- D5,000
The correct answer is: C
Explanation
- The petty cash monthly imprest= 28,000
- Debit balance (amount left in the imprest) = 5,000
- 28,000 - 5,000 = 23,000
- we need 23,000 to reimburse the imprest