if a cashier rang up sales totaling $4.000, but had only $3.997 to deposit which journal entry would be recorded? A debit to: O Sales of $4.000 and Cash Shortage of S3 and a credit to Cash of $3.997. O Cash of $3.997 and a credit to Cash Shortage of $3 and Sales Revenue of $4.000. O Cash of S3.997 and Cash Shortage of $3 and a credit to Sales Revenue of $4.000. Cash of $3.997 and Cash Shortage of $3 and a credit to Unearned Revenue of $4,000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
10
Timed Test
This test has a time limit of 1 hour and 25 minutes. This test will save and submit automatically when the time expires.
Warnings appear when half the time, 5 minutes, 1 minute, and 30 seconds remain.
Multiple Attempts Not allowed. This test can only be taken once.
Force Completion This test can be saved and resumed at any point until time has expired. The timer will continue to run if you leave the test.
Your answers are saved automatically.
Remaining Time: 1 hour, 24 minutes, 08 seconds.
Question Completion Status:
A Moving to another question will save this response.
Question 10
if a cashier rang up sales totaling $4,000, but had only $3,997 to deposit, which journal entry would be recorded? A debit to:
O Sales of $4,000 and Cash Shortage of S3 and a credit to Cash of $3.997.
O Cash of $3.997 and a credit to Cash Shortage of $3 and Sales Revenue of $4.000.
O Cash of $3.997 and Cash Shortage of $3 and a credit to Sales Revenue of $4,000.
O Cash of $3.997 and Cash Shortage of $3 and a credit to Unearned Revenue of $4,000.
A Moving to another question will save this response.
Transcribed Image Text:Timed Test This test has a time limit of 1 hour and 25 minutes. This test will save and submit automatically when the time expires. Warnings appear when half the time, 5 minutes, 1 minute, and 30 seconds remain. Multiple Attempts Not allowed. This test can only be taken once. Force Completion This test can be saved and resumed at any point until time has expired. The timer will continue to run if you leave the test. Your answers are saved automatically. Remaining Time: 1 hour, 24 minutes, 08 seconds. Question Completion Status: A Moving to another question will save this response. Question 10 if a cashier rang up sales totaling $4,000, but had only $3,997 to deposit, which journal entry would be recorded? A debit to: O Sales of $4,000 and Cash Shortage of S3 and a credit to Cash of $3.997. O Cash of $3.997 and a credit to Cash Shortage of $3 and Sales Revenue of $4.000. O Cash of $3.997 and Cash Shortage of $3 and a credit to Sales Revenue of $4,000. O Cash of $3.997 and Cash Shortage of $3 and a credit to Unearned Revenue of $4,000. A Moving to another question will save this response.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Stock Market Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education