Shvan maintains a petty cash book using the imprest system. The imprest amount, which is $200, is restored every Wednesday. All payments of less than $75 are made from petty cash. All cash receipts of less than $75 are paid into petty cash. On 1 March 2023 Shvan had $61 in his petty cash box. He provided the following information for the first week in March 2023. March 1 Restored petty cash imprest from the business bank account 2 Paid $55 to Giles, a trade payable 3 Paid taxi fare, $21 6 Paid $18 for notepads and pens 6 Received cash, $25, from Mitchell, a trade receivable 7 Paid $30 for office cleaning

1. (a)Prepare Shvan's petty cash book for the first week of March 2023, on the page opposite. Balance the petty cash book at 7 March 2023 and bring down the balance at 8 March 2023.[10]
2. (b)Shvan makes payments to Giles from his bank account as well as by cash. He provided the following information. March 1 Owed Giles, $165, from February 13 Paid Giles the amount outstanding on his account, by cheque 22 Purchased goods on credit from Giles, list price $150, subject to a trade discount of 4% Prepare the account for Giles as it would appear in the books of Shvan. Balance the account at 31 March 2023 and bring down the balance at 1 April 2023.[4]
3. (c)(i)Shvan is considering whether to stop keeping cash at his business premises. He would require all customers to transfer payment directly into his bank account and he would make all business payments from his bank account. State one way Shvan could pay his suppliers, from his bank account, other than by cheque.[1]
4. (c)(ii)Advise Shvan whether he should stop using cash. Justify your answer by providing two advantages and two disadvantages of stopping using cash.[5]