Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 34 - No. 4)
What should be done at the end of the imprest period?
The petty cash should be returned to zero.
The petty cash fund is replenished to its original amount.
All transactions from the period should be deleted.
The petty cash fund should be increased.
Explanation
At the end of an imprest period, the fund is replenished to bring it back to its original balance.
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