Day Time Company records the receipts from cash sales of $41,200 as $12,400.What adjustment is required in the bank's accounts?
A) No adjustment needed
B) Increase Sales; decrease Cash
C) Increase Cash; decrease Sales
D) Increase Cash; decrease Accounts Receivable

Question

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The Answer of Day Time Company records the receipts from cash sales of $41,200 as $12,400.What adjustment is required in the bank's accounts?
A) No adjustment needed
B) Increase Sales; decrease Cash
C) Increase Cash; decrease Sales
D) Increase Cash; decrease Accounts Receivable

Day Time Company Records the Receipts from Cash Sales of $41,200