At the end of the day,the cash register's record shows $2,050,but the count of cash in the cash register is $2,058.The correct entry to record the cash sales is:
A)Debit Cash $2,058; credit Sales $2,058.
B)Debit Cash $2,058; credit Cash Over and Short $8; credit Sales $2,050.
C)Debit Cash $2,050; credit Sales $2,050.
D)Debit Cash $2,050; debit Cash Over and Short $8; credit Sales $2,058.
E)Debit Cash Over and Short $8,credit Sales $8.

Question

Quizplus · Accepted Answer

The $8 difference between the cash register's record and the actual cash count is considered a Cash Over and Short account. The correct entry is to debit the actual cash count of $2,058 to Cash, credit Sales for the sales amount of $2,050, and credit the Cash Over and Short account for the difference of $8. This will ensure that both the cash count and the sales are recorded accurately while also accounting for the difference between the two totals.

At the End of the Day,the Cash Register's Record Shows