briefy explain imprest system with an example
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The imprest system is an accounting system designed to track and document how cash is being spent. The most common example of an imprest system is the petty cash system. ... This means that the general ledger account for imprest will never have another entry unless the amount of cash assigned to it is deliberately changed.
ex - petty trash system
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The most common example of an imprest system is the pretty cash system.
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