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?

A.

D33,000

B.

D28,000

C.

D23,000

D.

D5,000

View answer & explanation

Correct answer is C

  • 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

 

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