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20 December, 07:45

The cash register tape for Kingbird Industries reported sales of $10,032.30. Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $74.90. (b) Cash on hand exceeds cash reported by cash register tape by $41.34

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  1. 20 December, 08:09
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    (a)

    Dr Cash $10,032.30

    Cr Cash Over and Short$74.90

    Cr Sales Revenue $10,107.2

    (b)

    Dr Cash $10,148.54

    CrSales Revenue$10,107.2

    Cr Cash Over and Short$41.34

    Explanation:

    Kingbird Industries

    (a)

    Dr Cash $10,032.30

    Cr Cash Over and Short$74.90

    Cr Sales Revenue $10,107.2

    ($10,032.30+$74.90)

    (b)

    Dr Cash $10,148.54

    (10,107.2+$41.34)

    CrSales Revenue$10,107.2

    Cr Cash Over and Short$41.34
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