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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Cornerstone Exercise 4-22 Cash Over and Short

Walker Department Store has one cash register. On a recent day, the cash register tape reported sales in the amount of $13,729.87. Actual cash in the register (after deducting and removing the opening change amount of $75) was $13,747.21, which was deposited in the firm’s bank account.

Required:

Prepare a journal entry to record these cash collections.

To determine

Introduction:

Cash over and short means some time error recording in cash receipt and payment so, the difference will be either debit side or may be credit side. And difference will be matched by the opening the account of cash over and short.

To choose:

Pass journal entry.

Explanation
    DateParticularL.fDr. ($)Cr ($)

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