Answered: At the end of the day, the cash…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 7E

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Question

At the end of the day, the cash register tape lists $1,147.42 as total income from services. Cash on hand consists of $21.13 in coins, $547.52 in currency, $70.00 in traveler's checks, and $603.62 in customers' checks. The amount of the Change Fund is $100.

Required: Record the entry to record the day's cash revenue. If an amount box does not require an entry, leave it blank.

At the end of the day, the cash register tape lists $1,147.42 as total income from services. Cash on hand consists of $21.13 in coins, $547.52 in cu
checks, and $603.62 in customers' checks. The amount of the Change Fund is $100.
Required:
Record the entry to record the day's cash revenue. If an amount box does not require an entry, leave it blank.
GENERAL JOURNAL
PAGE
DOC.
POST.
DATE
DESCRIPTION
DEBIT
CREDIT
NO.
REF.
Cash
Cash Short and Over
Income from Services
1,147.42
To record revenue earned during the day involving a cash
shortage of $5.15.

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