| Correct answer is: Option A | ||
| General Journal | Debit | Credit |
| Cash | $ 402 | |
| Cash shortage or over | $ 3 | |
| Sales | $ 405 | |
| (Being sales and cash shortage recorded) | ||
MC Qu. 9-38 George's Grocers keeps... George's Groceres a $100 changeundin sales and cash overage for...
Lourdes LLC. keeps a $100 change fund in its cash register. At the end of the day, cash sales per the register tape were $3,280. The cash count was $3,700. Calculate the amount over or short.
Read the following transactions. Lourdes LLC. keeps a $100 change fund in its cash register. At the end of the day, cash sales per the register tape were $3.460. The cash count was $3,900. Calculate the amount over or short.
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At the end of the day, the cash register tape shows $1,180 in cash sales but the count of cash in the register is $1,235. The proper entry to account for this excess is: Multiple Choice ( Debit Cosh $1180; credit Sales $1,180. O Debit Cash $1,235; credit Sales $1.235. ( Debit Cash $1,235, credit Sales $1180; credit Cash Over and Short $55. Debit Cash $1,180; debit Cash Over and Short for $55; credit Sales $1.235. Debit Cash Over...
8. Which of the following accounts has a normal debit balance? a. Accounts Payable b. Sales Returns and Allowances c. Sales d. Interest Revenue 9. Using a perpetual inventory system, the entry to record the purchase of $30,000 of merchandise on account would include a a. debit to Sales b. debit to Merchandise Inventory c. credit to Merchandise Inventory d. credit to Sales 10. A retailer purchases merchandise with a catalog list price of $15,000. The retailer receives a 30%...