(Solved): explain imprest petty cash system works Hangin' Out Night Club maintains an imprest petty cash fund ...

Hangin' Out Night Club maintains an imprest petty cash fund of \( \$ 200 \), which is under the control of Sandra Morgan. At March 31 , the fund holds \( \$ 19 \) cash and petty cash tickets for office supplies, \( \$ 159 \), and delivery expense, \( \$ 35 \). Read the requirements. Requirement 1. Complete the following to explain how an imprest petty cash system works. Maintaining the Petty Cash account at its is the nature of an imprest system. The imprest system requires that, the petty cash box contains This clearly identifies the and it is the system's main internal control feature. Read the requirements. Requirement 1. Complete the following to explain how an imprest petty cash system works. Maintaining the Petty Cash account at its is the nature of an imprest system. Th requires that, the pe This clearly identifies the bank balance em's main internal control fe: designated balance reconciled balance March 31 , the fund holds \( \$ 19 \) cash and petty cash tickets for office supplies, \( \$ 159 \), ar Read the requirements. Requirement 1. Complete the following to explain how an imprest petty cash system Maintaining the Petty Cash account at its is the nature of an imp requires that, the petty cash box contains ( requires that This clearly , and it is the system's main int at any point in time at month end at year end Requirement 1. Complete the following to explain how an imprest petty cash system Maintaining the Petty Cash account at its is the nature of an iml requires that, the petty cash box contains his clearly cash and petty cash tickets that total the amount of the imprest balance cash and petty cash tickets that total the cash in the checking account petty cash tickets that total the amount of the imprest balance petty cash tickets that total the cash in the checking account amount of cash for which the custodian is responsible amount of cash in the bank account at month end