At the end of business on September 1, the total displayed on the cash register tape...

  

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At the end of business on September 1, the total displayed on the cash register tape shows $1,059 of cash sales for the day. However, when the clerk and the supervisor count the cash in the register, the count reveals that $1,050 was actually collected from customers. Complete the following journal entry by selecting the account names and dollar amounts from the drop-down menus. Date Sept. 1 select select select Account Title : Debit select select select Credit select select select : All of the following statements regarding a voucher system are incorrect except all companies use the same standardized voucher system an invoice approval initiates the recording of a purchase for control purposes, department managers may place orders directly with suppliers in a well-designed voucher system a voucher system is commonly used in small companies to compensate for the lack of other internal controls a well-designed voucher system will prevent all errors and fraud X At the end of business on September 1, the total displayed on the cash register tape shows $1,059 of cash sales for the day. However, when the clerk and the supervisor count the cash in the register, the count reveals that $1,050 was actually collected from customers. Complete the following journal entry by selecting the account names and dollar amounts from the drop-down menus. Date Sept. 1 select select select Account Title : Debit select select select Credit select select select : All of the following statements regarding a voucher system are incorrect except all companies use the same standardized voucher system an invoice approval initiates the recording of a purchase for control purposes, department managers may place orders directly with suppliers in a well-designed voucher system a voucher system is commonly used in small companies to compensate for the lack of other internal controls a well-designed voucher system will prevent all errors and fraud X

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Answer an invoice approval initiates the recording of a purchase All of the following s... View the full answer