A petty cash account has an imprest of D28,000. The account has a debit balance of D5,000. How much cash is needed to restore the imprest?

A. D33,000
B. D28,000
C. D23,000
D. D5,000

Correct Answer: Option C

C. D23,000

Explanation

The petty cash monthly imprest= 28,000
Debit balance (amount left in the imprest) = 5,000
28,000 – 5,000 = 23,000
we need 23,000 to reimburse the imprest