1. Explain how an imprest petty cash system works. 2. Journalize the establishment of the petty cash fund on March 1 and the replenishment of the fund on March 31. 3. Prepare a T-account for Petty Cash, and post to the account. What is the balance of the Petty Cash account at all times? Hal's Place Night Club maintains an imprest petty cash fund of $250, which is under the control of Sandra Morgan. At March 31, the fund holds $24 cash and petty cash tickets for office supplies, $213, and delivery expense, $25. Read the cost.coment