Question
On June 4, Marie Company had cash sales rung up by cashiers totaling $120,500. Cash in the drawer was counted and found to be $126,000.
On June 4, Marie Company had cash sales rung up by cashiers totaling $120,500. Cash in the drawer was counted and found to be $126,000. The journal entry to record the sales for June 4, would include a:
Multiple Choice
debit to Sales Revenue for $120,500.
debit to Cash for $120,500.
credit to Sales Revenue for $126,000.
credit to Cash Overage for $5,500.
Step by Step Solution
3.45 Rating (148 Votes )
There are 3 Steps involved in it
Step: 1
The detailed answer for the above question is provided be...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App