Use the following information to answer questions 52 to 54
Taiwo is a sole trader who keeps his petty cash on the imprest system, the imprest amount being #4,000.
The following transactions took place for a particular month:
Dec 1 petty cash in hand 517
1 petty cash to imprest 3,483
6 Bought notebooks 328
7 Paid wages 914
14 Bought postage stamps 375
16 Paid to J. Thomas, a creditor 536
21 Paid wages 928
23 Bought envelopes 437
27 Bought postage stamps 210
Amount to be reimbursed at the end of the month is
Amount to be reimbursed = Total expenses incurred
= 328 + 914 + 375 + 536 + 928 + 437 + 210 = ₦3,728.
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