If a cashier rang up sales totaling $5,096,but had $5,100 to deposit,which journal entry would be recorded?
A) A debit to Cash for $5,100, a credit to Cash Overage for $4, and a credit to Sales Revenue for $5,096.
B) A debit to Sales for $5,100, a debit to Cash Overage for $4, and a credit to Cash for $5,096.
C) A debit to Cash for $5,096, a debit to Cash Shortage for $4, and a credit to Sales Revenue for $5,100.
D) A debit to Cash for $5,096, a debit to Cash Shortage for $4, and a credit to Unearned Revenue for $5,100.

Question

Quizplus · Accepted Answer

This entry reflects the actual sales made by the cashier and the overage amount in the cash deposit. A debit to cash for the total amount deposited, a credit to cash overage for the excess amount, and a credit to sales revenue for the amount of goods sold. This entry ensures that both the cash and sales record are accurate.

If a Cashier Rang Up Sales Totaling $5,096,but Had $5,100