In: Accounting
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 $8,910.
Prepare the general journal entries to record the above transactions.
Journal Entries
Transaction | Account Titles & Explanation | Debit$ | 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