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Use the information below to answer the following questions 

 
Period 1 N
Cash to petty cashier 1000
Petty cashier pays out 780
Period 2  
Petty cashier pays out 840

What is the balance of cash with the petty cashier at the end of period 1?

A.

220

B.

780

C.

980

D.

1780

View answer & explanation

Correct answer is A

Period one income =

N1,000- N780 pay out = N220 balance 

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