Question
Mercy Co. had the following 4 days of transactions. Record the journal entry for each day, assuming there might be cash overages or shortages. May
Mercy Co. had the following 4 days of transactions. Record the journal entry for each day, assuming there might be cash overages or shortages.
May 1 Established a $100 change fund.
May 2 Sales for the day amount to $998. Cash in the register after deducting the change fund totals $994.50
May 3 Sales for the day amount to $1,025. Cash in the register after deducting the change fund totals $1,028.50.
May 4 Increase the change fund to $200.
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Management And Cost Accounting
Authors: Colin Drury
9th Edition
1408093936, 978-1408093931
