Ask Question
6 December, 06:06

Discount Store, a retail business, keeps a $100 change fund in its cash register. If Discount started business on September 29 and had cash sales per the cash register on that day of $1,200, but the cash count showed $1,307, then the cash register was:

+5
Answers (1)
  1. 6 December, 06:17
    0
    Actual Cash is excess by $7 after balancing the cash position.

    Explanation:

    When the cash counted is more than the cash register plus the Change fund kept, the cash balance is excess.

    Cash Fund = $100

    Cash Counted = $1,307

    Net Cash from Sales = $1,307 - $100 = $1,207

    Cash Register Balance = $1,200

    Net Effect = Actual cash - Cash register balance = $1,207 - $1,200 = $7
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Discount Store, a retail business, keeps a $100 change fund in its cash register. If Discount started business on September 29 and had cash ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers