Hang Out Night Club maintains an imprest petty cash fund of $$150,$ which is under the control of Adalyn Buggs. At March

$$126,$ and delivery expense, $$20.$

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 re

This clearly identifies the

internal control feature.