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vagabundo [1.1K]
3 years ago
14

The cash register tape for Sage Hill Industries reported sales of $9,070.30. Record the journal entry that would be necessary fo

r each of the following situations.
(a) Sales per cash register tape exceeds cash on hand by $66.99.
(b) Cash on hand exceeds cash reported by cash register tape by $37.37. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
natta225 [31]3 years ago
8 0

Answer:

a.

DR Cash .....................................................................$‭9,003.31‬

DR Cash Over and Short.........................................$66.99

CR Sales revenue........................................................................$‭9,070.30

Working

Cash = 9,070.30 - 66.99 =  $‭9,003.31‬

b.

DR Cash .....................................................................$‭9,107.67‬

CR Sales revenue........................................................................$‭9,070.30

CR Cash Over and Short.............................................................$37.37

Working

Cash = 9,070.30 + 37.37 = $‭9,107.67

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