Listed below are the weekly cash register tape amounts for service fees and the related cash counts
Question:
Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the month of July. A change fund of $100.00 is maintained.
REQUIRED
1. Prepare the journal entries to record the cash service fees and cash short and over for each of the five weeks.
2. Post to the cash short and over account (use Account No. 516).
3. Determine the ending balance of the cash short and over account. Does it represent an expense orrevenue?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: