Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cash Short and Over Entries Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the

image text in transcribedimage text in transcribed

Cash Short and Over Entries Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the month of July. A change fund of $100 is maintained. Cash Register Actual Cash Date July 2 Change Fund Receipt Amount Counted $100 $289.50 $387.00 9 100 311.50 411.50 16 100 306.00 408.50 23 100 317.50 415.00 30 100 296.00 399.50 Required: 1. Prepare the journal entries to record the cash service fees and cash short and over for each of the five weeks. Enter the posting reference when you post to the ledger in part 2. GENERAL JOURNAL DATE DESCRIPTION POST. REF. DEBIT PAGE 8 CREDIT 20-- Jul. 2 Jul. 9 Jul. 16 Jul. 23 Jul. 30 Record service fees and cash shortage Record service fees Record service fees and cash overage Record service fees and cash shortage Record service fees and cash overage

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

16th edition

978-1259307416

Students also viewed these Accounting questions

Question

What is meant by the term distribution-free statistical tests?

Answered: 1 week ago