The cash register tape for Tamarisk Industries reported sales of $8,103.30.Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $59.85. (b) Cash on hand exceeds cash reported by cash register tape by $33.39. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.)  TransactionsAccount Titles and ExplanationDebitCredit(a)enter an account titleenter a debit amount rounded to 2 decimal placesenter a credit amount rounded to 2 decimal places enter an account titleenter a debit amount rounded to 2 decimal placesenter a credit amount rounded to 2 decimal places enter an account titleenter a debit amount rounded to 2 decimal placesenter a credit amount rounded to 2 decimal places    (b)enter an account titleenter a debit amount rounded to 2 decimal placesenter a credit amount rounded to 2 decimal places enter an account title

Question
Asked Nov 8, 2019

The cash register tape for Tamarisk Industries reported sales of $8,103.30.

Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $59.85. (b) Cash on hand exceeds cash reported by cash register tape by $33.39. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

 

 
Transactions
Account Titles and Explanation
Debit
Credit
(a)
enter an account title
enter a debit amount rounded to 2 decimal places
enter a credit amount rounded to 2 decimal places
 
enter an account title
enter a debit amount rounded to 2 decimal places
enter a credit amount rounded to 2 decimal places
 
enter an account title
enter a debit amount rounded to 2 decimal places
enter a credit amount rounded to 2 decimal places
       
(b) enter an account title
enter a debit amount rounded to 2 decimal places
enter a credit amount rounded to 2 decimal places
 
enter an account title
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Expert Answer

Step 1

(a)

Prepare journal entry to record the following situation:

Sales per cash...

Account titles and Explanation
Cash
Cash over and short
Debit
Credit
Date
$8,043.45
$59.85
$8,103.30
Sales revenue
(To record the cash shortage)
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Account titles and Explanation Cash Cash over and short Debit Credit Date $8,043.45 $59.85 $8,103.30 Sales revenue (To record the cash shortage)

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