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 Receipt Amount Actual Cash Counted Date Change Fund $100 July 2 $285.00 $383.00 9 100 312.50 412.50 16 100 303.40 405.40 23 100 321.80 419.00 30 100 294.00 397.70 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. PAGE 8 GENERAL JOURNAL DESCRIPTION POST. REF. DATE DEBIT CREDIT 20-- Jul. 2 Cash Cash Short and Over 516 Service Fees Record service fees and cash shortage Jul. 9 Cash 312.5 Service Fees 312.5 Record service fees Cash Jul. 16 Cash Short and Over 516 Service Fees Record service fees and cash overage Jul. 23 Cash Cash Short and Over 516 Service Fees Record service fees and cash shortage Cash Jul. 30 Cash Short and Over 516 Service Fees Record service fees and cash overage 2. Post to the cash short and over account (use Account No. 516). Enter in chronological order. If an amount box does not require an entry, leave it blank. After you post to the general ledger, go back and complete the posting in part 1 for the cash short and over account only. GENERAL LEDGER ACCOUNT Cash Short and Over ACCOUNT NO. 516 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jul. 2 18 Jul. 16 18 Jul. 23 18 Jul. 30 18 3. Determine the ending balance of the cash short and over account. $ Does it represent an expense or revenue? Feedback