Question

In: Accounting

Prepare the general journal entries to record the above transactions.

Read each of the following transactions 

A). The cash sales per a register tape were $593 The cash count is $559 

B). The cash sales per a register tape were $9,400 The cash count is $8,910. 

Prepare the general journal entries to record the above transactions.

Solutions

Expert Solution

Journal Entries

Transaction Account Titles & Explanation Debit$ Credit$
(a) Cash A/C 559  
  Cash Short & over A/C (593 - 559) 34  
            To Revenue A/C   593
  (To record cash sales & Cash Short)    
(b) Cash A/C 8,910  
  Cash Short & over A/C (9,400 - 8,910) 490  
             To Revenue A/C   9,400
  (To record cash Sales & Cash Short)    

 

Answer to the above Question clearly shown in the explanation option

balaji rao answered 4 years ago
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