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At the end of the day, the cash register tape shows $1.000 in cash sales but the count of cash in the register is $1,010. The proper entry to account for this excess is: Debit Cash $1.000; credit Sales $1.000. Debit Cash $1.010; credit Sales $1.010. Debit Cash $1.010: credit Sales $1.000; credit Cash Over and Short $10. (Debit Cash $1.000; debit Cash Over and Short for $10: credit Sales $1.010. Debit Cash Over and Short $10: credit Cash $10.

At the end of the day, the cash register tape shows $1.000 in cash sales but the count of cash in the register is $1,010. The proper entry to account for this excess is: Debit Cash $1.000; credit Sales $1.000. Debit Cash $1.010; credit Sales $1.010. Debit Cash $1.010: credit Sales $1.000; credit Cash Over and Short $10. (Debit Cash $1.000; debit Cash Over and Short for $10: credit Sales $1.010. Debit Cash Over and Short $10: credit Cash $10.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At the end of the day, the cash register tape shows $1,000 in cash sales but the count of cash in the register is $1.010. The proper entry to account for this excess is: Debit Cash $1,000; credit Sales $1,000. Debit Cash $1.010; credit Sales $1,010. Debit Cash $1.010: credit Sales $1,000; credit Cash Over and Short $10. Debit Cash $1.000; debit Cash Over and Short for $10; credit Sales $1,010. Debit Cash Over and Short $10: credit Cash $10.
Transcribed Image Text:At the end of the day, the cash register tape shows $1,000 in cash sales but the count of cash in the register is $1.010. The proper entry to account for this excess is: Debit Cash $1,000; credit Sales $1,000. Debit Cash $1.010; credit Sales $1,010. Debit Cash $1.010: credit Sales $1,000; credit Cash Over and Short $10. Debit Cash $1.000; debit Cash Over and Short for $10; credit Sales $1,010. Debit Cash Over and Short $10: credit Cash $10.
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