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ACCOUNTS
II. Functioning of accounts
Class 5. Cash and financial instruments

54. Imprest accounts and letters of credit

 

Account 54 " Imprest accounts and letters of credit " records, where applicable, transactions relating to funds managed by imprest administrators or subordinate accountants and transactions relating to letters of credit opened by banks in the name of a third party or an agent of the entity.

This account is debited with the amount of funds allocated to the imprest administrators and L/C holders by crediting a cash account. It is credited with:

 

 
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