Use the following information below to answer this question 

Five hundred naira monthly is allowed on an imprest system. The following transactions took place
Period 1:                                                    
Cash advanced to petty cashier               500
Petty cashier paid out: Stamp                  200
                                     Newspaper          250
Period 2:
Cash to petty cashier                               450
Cashier paid for writing materials             350

What was the balance of cash with the petty cashier at the end of period 1?

a

₦450

b

₦300

c

₦50

d

₦200

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Explanation

Correct Option
c

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