Use the following information below to answer this question
Five hundred naira monthly is allowed on an imprest system. The following transactions took place
Period 1: ₦
Cash advanced to petty cashier 500
Petty cashier paid out: Stamp 200
Newspaper 250
Period 2:
Cash to petty cashier 450
Cashier paid for writing materials 350
What was the balance of cash with the petty cashier at the end of period 1?
₦450
₦300
₦50
₦200
Correct answer is C
No explanation has been provided for this answer.