What is the amount banked at the end of week 2?

Refer to the Exhibit.

A sole trader, who only has cash sales, banks all cash receipts above the agreed petty cash float of $400.

During week 2 he has the following transactions:

What is the amount banked at the end of week 2?
A . $25
B . $225
C . $425
D . $625

View Answer

Answer: C