O-LevelAccountingAccounting procedures7707/13 · Oct/Nov 2023 · Q71 Mark

A trader maintains a petty cash book using the imprest system. The imprest amount is $120. The petty cash transactions during the month of June were: [Table with receipt from a customer $21, payments for stationery $25, postage $10, cleaning $20, payment to a supplier $40] How much was given to the petty cashier on 1 July to restore the imprest?

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A$46

B$74

C$95

D$120

✓ Correct answer

B: $74

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2023 Paper 1 Variant 3, question 7.

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