The following selected transactions relate to cash collections for a firm that maintains a days of cash receipts from sales. a. Actual cash in cash register, $5,154; cash receipts per cash register tally, $5,170. b. Actual cash in cash register, $4,339; cash receipts per cash register tally, $4,228. If an amount box does not require an entry, leave it blank. a. Cash 5,154 Cash Short and Over 13 Sales 5,170 b. Сash 4,339 Cash Short and Over 4,228 Sales

The following selected transactions relate to cash collections for a firm that maintains a days of cash receipts from sales. a. Actual cash in cash register, $5,154; cash receipts per cash register tally, $5,170. b. Actual cash in cash register, $4,339; cash receipts per cash register tally, $4,228. If an amount box does not require an entry, leave it blank. a. Cash 5,154 Cash Short and Over 13 Sales 5,170 b. Сash 4,339 Cash Short and Over 4,228 Sales

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 7E

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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

The following selected transactions relate to cash collections for a firm that maintains a $100 change fund at all times. Present entries to record the transactions for each of the two
days of cash receipts from sales.
a. Actual cash in cash register, $5,154; cash receipts per cash register tally, $5,170.
b. Actual cash in cash register, $4,339; cash receipts per cash register tally, $4,228.
If an amount box does not require an entry, leave it blank.
a. Cash
5,154
Cash Short and Over
13
Sales
5,170
b. Cash
4,339
Cash Short and Over
4,228
Sales
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Accounting for Cash and cash equivalents

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