The actual cash received from cash sales was $36,006, and the amount indicated by the cash register total was $36,010. Journalize the entry to record the cash receipts and cash sales. Refer to the Chart of Accounts for exact wording of account titles.

The actual cash received from cash sales was $36,006, and the amount indicated by the cash register total was $36,010. Journalize the entry to record the cash receipts and cash sales. Refer to the Chart of Accounts for exact wording of account titles.

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash And Marketable Securities

Section: Chapter Questions

Problem 37RSCQ

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

Entry for cash sales; cash short
Instructions Chart of Accounts Journal
Instructions
The actual cash received from cash sales was $36,006, and the amount indicated by the cash register total was $36,010.
Journalize the entry to record the cash receipts and cash sales. Refer to the Chart of Accounts for exact wording of account titles.

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Accounting for Cash and cash equivalents

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