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 $2,050; debit Cash Over and Short $8; credit Sales $2,058.
C) Debit Cash Over and Short $8, credit Sales $8.
D) Debit Cash $2,058; credit Cash Over and Short $8; credit Sales $2,050.
E) Debit Cash $2,050; credit Sales $2,050.

Question

Quizplus · Accepted Answer

The cash register shows $2,050 in sales, but there is $2,058 in cash, indicating an $8 overage. The correct entry is to debit Cash for the actual amount received ($2,058), credit Sales for the recorded sales amount ($2,050), and credit Cash Over and Short for the difference ($8).

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