2 POINTS Problem: Cash Over (Short) JWU Bookstore has one cash register. On a recent day, the cash register tape reported sales in the amount of $453.70. Actual cash in the register (after deducting the $20 starting balance) was 450.70, which was deposited in the Company's bank account. Prepare a journal entry to record these cash collections. Account Name Debit Credit
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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