Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3 of 5 0.78/1 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. The cash register tape for Kingbird

image text in transcribed

Question 3 of 5 0.78/1 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. The cash register tape for Kingbird Industries reported sales of $7,008.50. Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $51.76. (b) Cash on hand exceeds cash reported by cash register tape by $28.88. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Transactions Account Titles and Explanation (a) Cash 7,008.50 Cash Over and Short 51.76 Sales Revenue 7,060.260 (b) cash 7,008.50 Sales Revenue Cash Over and Short 28.88

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Knowledge Audit Its Learning Lessons

Authors: Ajit Kumar

1st Edition

3659494836, 978-3659494833

More Books

Students also viewed these Accounting questions

Question

Describe the appropriate use of supplementary parts of a letter.

Answered: 1 week ago