A credit balance in the Cash Short and Over account represents a shortage of cash and would be treated as an expense.

Name: A credit balance in the Cash Short and Over account represents a shortage of cash and would be treated as an expense.
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Question

Quizplus · Accepted Answer

A debit balance in the Cash Short and Over account represents a shortage of cash and would be treated as an expense.An overage of cash represents revenue and is recorded by crediting the Cash Short and Over account.

A Credit Balance in the Cash Short and Over Account