Answer:
a. Dr Cash $ $4,958
Dr Cash over and short $123
Cr Sales $5,081
b. Dr Cash $3,512
Cr Cash over and short $13
Cr Sales $3,499
Explanation:
a) According to the given data we hace the following:
Actual Cash in register $5,058 and cash receipts $5,081
$5,058-$100=$4,958
Therefore, Dr cash over and short=$5,081-$4,958=$123
Therefore, the journal entry would be as follows:
Dr Cash $ $4,958
Dr Cash over and short $123
Cr Sales $5,081
b) Actual cash in cash register $3,612 and cash receipts $3,499
$3,612-$100=$3,512
Therefore, Dr cash over and short=$3,512-$3,499=$13
Therefore, the jorunal entry would be as follows:
Dr Cash $3,512
Cr Cash over and short $13
Cr Sales $3,499
