If a cashier rang up sales totaling $4,000,but had only $3,997 to deposit,which journal entry would be recorded? A debit to:
A) Cash of $3,997 and Cash Shortage of $3 and a credit to Sales Revenue of $4,000.
B) Sales of $4,000 and Cash Shortage of $3 and a credit to Cash of $3,997.
C) Cash of $3,997 and a credit to Cash Shortage of $3 and Sales Revenue of $4,000.
D) Cash of $3,997 and Cash Shortage of $3 and a credit to Unearned Revenue of $4,000.

Question

Quizplus · Accepted Answer

The cashier is short $3, so a debit to Cash of $3,997 (the actual amount deposited) and a debit to Cash Shortage of $3 are necessary. Sales were recorded correctly, so a credit to Sales Revenue of $4,000 is appropriate.

If a Cashier Rang Up Sales Totaling $4,000,but Had Only