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Problem 9 . 1 A ( Static ) Journalizing cash receipts, cash short or over, and posting to the general ledger. LO 9 - 1

Problem 9.1A (Static) Journalizing cash receipts, cash short or over, and posting to the general ledger. LO 9-1Christys Cupcakes, a retail business, started business on June 25,20X1. It keeps a $300 change fund in its cash register. The cash receipts for the period from June 25 to June 30,20X1, are below.DATETRANSACTIONSJune 25Cash sales per the cash register tape, $1,237.June 25Cash count, $1,529.June 26Cash sales per the cash register tape, $1,345.June 26Cash count, $1,640.June 27Cash sales per the cash register tape, $1,360.June 27Cash count, $1,661.June 28Cash sales per the cash register tape, $1,288.June 28Cash count, $1,582.June 29Cash sales per the cash register tape, $1,136.June 29Cash count, $1,439.June 30Cash sales per the cash register tape, $1,375.June 30Cash count, $1,668.Required:Record the cash receipts from June 25 to June 30,20X1, in a general journal.Post the amounts for Cash Short or Over in the journal entries to the general ledger.Analyze:How will the balance in Cash Short or Over on June 30 be reported in the financial statements?

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