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22 December, 22:23

At the end of the day, the cash register tape shows $1,000 in cash sales but the count of cash in the register is $1,010. the proper entry to account for this excess is:

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  1. 22 December, 22:32
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    The proper entry to record this is Credit to Cash Over and Short for $10

    Credit cash and over is an accounting account that created to anticipate the mistakes that happen during in cash management during company's operation.

    Putting the amount of cash as $10 in credit will balance out the excess of the recorded cash.
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