The Petty Cash box of Mini Book Store as of December 31, 2022 contains the following: receipt for transportation P800; receipt for photocopying P300; invoice for various expenses P1,500. Also included are bills and coins for 3,500. The general ledger account of PCF has a balance of 6,000. The company uses the imprest system. If the company replenished the PCF on December 31, 2022, how much is cash to be paid to the PCF custodian?

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A:

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.