Joel, small business owner, senses that the cash amounts in the cash register might be consistently lower than the books records. He last counted cash three weeks ago and found the register to be about $20 short. He cant remember exactly what the cash register counts in the past revealed, but he feels that the last few counts have revealed short cash. Today, its seems like there is lower cash than the record again.
Joel has 4 employees and three of them work the cash register at random. There is a barcode scanning system which updates the inventory. Since the job is quite straight forward and most new hires already have experience with it already, Joel only has to spend an hour or two training the cashiers then they can generally proceed unsuspended from that point on.
If Joel count the cash and discovers a shortage what should he do? Include journal entry details (assume a date of march 20th) and other helpful measure. explain why your recommendation are the right ones.