Question
Williams Supply Co.'s cash receipts from sales totaled $54,470 on August 12, 2015. The cash register total for cash sales for the day was $54,493.
Williams Supply Co.'s cash receipts from sales totaled $54,470 on August 12, 2015. The cash register total for cash sales for the day was $54,493. How much under or over are the company's cash receipts for the day? Prepare the journal entry to record the cash receipts, sales, and overage or shortage.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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 Started
Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
17th edition
978-0273778172, 027377817X, 978-1292080505
