Bola a grocer, keep petty cash on imprest system, the float being GH⊄ 8,000. These transactions took place in January 2018.

GH⊄
January 1 Petty cash in hand 1034
January 1 Petty cash to restore float 6966
January 6 Bought note books 656
January 7 Paid wages 1828
January 14 Bought postage stamps 750
January 16 Paid to Biodun a creditor 1072
January 18 Paid wages 1856
January 23 Purchased envelopes 874
January 28 Purchased postage stamps 420

 

A. GH⊄ 1,170
B. GH⊄ 1,076
C. GH⊄ 1,530
D. GH⊄ 874

Correct Answer:

Option C – GH⊄ 1,530

Explanation

Amount spent on stationery = 656 + 874
= GH⊄ 1530

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