At the end of the day, the cash register tape shows $1,200 in cash sales but...

At the end of the day, the cash register tape shows $1,200 in cash sales but the count of cash in the register is $1,260. The proper entry to account for this excess is:

Multiple Choice

Debit Cash $1,200; credit Sales $1,200.
Debit Cash $1,260; credit Sales $1,260.
Debit Cash $1,260; credit Sales $1,200; credit Cash Over and Short $60.
Debit Cash $1,200; debit Cash Over and Short for $60; credit Sales $1,260.
Debit Cash Over and Short $60; credit Cash $60.

Solutions

Expert Solution

answer)

Debit Cash $1,260; credit Sales $1,200; credit Cash Over and Short $60

Cash DR 1260

Sales CR 1,200

Cash over and short CR 60

ekkarill92 answered 1 year ago

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