11. Since ASC is a small retail business, the supervisor on duty usually collects the cash...

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11. Since ASC is a small retail business, the supervisor on duty usually collects the cash from the registers and deposits the cash sales on his way home. The next day, he brings the deposit slips to the Accounting Department so the cash sales for the previous day can be recorded. How could ASC strengthen its cash receipts controls? 12. On October 8, 20YS, a company's cash receipts from sales totaled $62,392, while the cash register total for cash sales equaled $62,379. Calculate the shortage or overage and prepare the journal entry to record the cash receipts, sales, and overage or shortage. 11. Since ASC is a small retail business, the supervisor on duty usually collects the cash from the registers and deposits the cash sales on his way home. The next day, he brings the deposit slips to the Accounting Department so the cash sales for the previous day can be recorded. How could ASC strengthen its cash receipts controls? 12. On October 8, 20YS, a company's cash receipts from sales totaled $62,392, while the cash register total for cash sales equaled $62,379. Calculate the shortage or overage and prepare the journal entry to record the cash receipts, sales, and overage or shortage.