When the cash count sheets for the day equal $14,140 and the cash register reports $14,280,the journal entry to record the sales will include a:
A)debit to Cash Shortage
B)credit to Cash Shortage
C)credit to Cash Overage
D)debit to Cash Overage

Question

Quizplus · Accepted Answer

The entry includes a debit to Cash for $14,280,a debit to Cash Shortage for $140 (or $14,280 − $14,140),and a credit to Sales Revenue for $14,140.

When the Cash Count Sheets for the Day Equal $14,140