JAMB - Accounts Principles Of Accounts (2020 - No. 13)

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

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