FINANCIAL AND MANAGERIAL ACCOUNTING
FINANCIAL AND MANAGERIAL ACCOUNTING
9th Edition
ISBN: 2818440048890
Author: Wild
Publisher: MCG CUSTOM
Question
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Chapter 6, Problem 8QS
To determine

Cash Over and Short:

Sometimes cash count in the box does not match the cash recorded as per the register. When the cash count is more than what was recorded, it is called cash overage. When the cash count falls short of what was recorded, it is called a cash shortage.

To record:

The journal entry for sales and cash over & short for the given situations.

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