FINANCIAL & MANAGERIAL ACCOUNTING
FINANCIAL & MANAGERIAL ACCOUNTING
9th Edition
ISBN: 9781266640667
Author: Wild
Publisher: MCG
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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