An imprest fund has a credit balance at all times, which equals the sum of ▼ accounts receivable cash in the bank cash in the fund deposits in transit plus the ▼ check stubs credit memos total of the tickets that support payments from the fund. the internal control feature of an imprest fund is that it ▼ clearly debits clearly identifies decreases increases the amount of money for which the fund custodian is responsible.

Dakota company experienced the following events during 2016. 1. acquired $30,000 cash from the issue of common stock. 2. paid $12,000 cash to purchase land. 3. borrowed $10,000 cash. 4. provided services for $20,000 cash. 5. paid $1,000 cash for utilities expense. 6. paid $15,000 cash for other operating expenses. 7. paid a $2,000 cash dividend to the stockholders. 8. determined that the market value of the land purchased in event 2 is now $12,700