Requirement 1. Explain the characteristics and the internal control features of an imprest fund. An imprest fund has a credit a different the same 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. Part 2 Requirement 2. On June 30, how much cash should the petty cash fund hold before it is replenished? Before it is replenished, the petty cash fund should hold cash of