Royal Jewels, a retail business, started business on June 25, 2019. It keeps a $300 change fund in its cash register. The cash receipts for the period from June 25 to June 30, 2019 are below.

DATE		TRANSACTIONS
June	25	Cash sales per the cash register tape, $1,232.
		Cash count, $1,526.
	26	Cash sales per the cash register tape, $1,345.
		Cash count, $1,637.
	27	Cash sales per the cash register tape, $1,353.
		Cash count, $1,658.
	28	Cash sales per the cash register tape, $1,287.
		Cash count, $1,579.
	29	Cash sales per the cash register tape, $1,134.
		Cash count, $1,436.
	30	Cash sales per the cash register tape, $1,373.
		Cash count, $1,665.

Required:

Record the cash receipts from June 25 to June 30, 2019, 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?

Journal entry worksheet

Cash sales per the cash register tape, $1,232. Cash count, $1,526.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 25, 2019

Cash sales per the cash register tape, $1,345. Cash count, $1,637.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 26, 2019

Cash sales per the cash register tape, $1,353. Cash count, $1,658.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 27, 2019

Cash sales per the cash register tape, $1,287. Cash count, $1,579.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 28, 2019

Cash sales per the cash register tape, $1,134. Cash count, $1,436.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 29, 2019

Cash sales per the cash register tape, $1,373. Cash count, $1,665.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 30, 2019

General Ledger

Analyze

Post the amounts for Cash Short or Over in the journal entries to the general ledger.

GENERAL LEDGER
Cash Short or Over		Account No. 620
Date	Debit	Credit	Balance

Analyze

How will the balance in Cash Short or Over on June 30 be reported in the financial statements?