Taiwo is a sole trader who keeps his petty cash on the im...
Use the following information to answer the given question
Taiwo is a sole trader who keeps his petty cash on the imprest system, the imprest amount being N4,000. The following transactions took place for a particular month: \(\begin{array}{c|c} & & & N \\ \hline Dec. & 1 & \text{petty cash in hand} & 517 \\ & 1 & \text{petty cash to imprest amount} & 3,483 \\ & 6 & \text{Bought notebooks} & 328\\ & 7 & \text{Paid wages} & 914\\ & 14 & \text{Bought postage stamps} & 375 \\ & 16 & \text{Paid to J. Thomas, a creditor} & 536 \\ & 21 & \text{Paid wages} & 928 \\ & 23 & \text{Bought envelopes} & 437 \\ & 27 & \text{Bought postage stamps} & 210\end{array}\)
Amount to be reimbursed at the end of the month is
N4,000
N3,728
N3,483
N1,842
Correct answer is B
No explanation has been provided for this answer.
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