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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
Answer: C
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