The actual cash received from cash sales was $32,730, and the amount indicated by the cash register total was $32,690. Journalize the entry to record the cash receipts and cash sales.
Answer to relevant QuestionsAbbe Co. is a small merchandising company with a manual accounting system. An investigation revealed that in spite of a sufficient bank balance, a significant amount of available cash discounts had been lost because of ...Identify the errors in the following bankreconciliation:The following procedures were recently installed by Raspberry Creek Company:a. After necessary approvals have been obtained for the payment of a voucher, the treasurer signs and mails the check. The treasurer then stamps the ...The cash account for Collegiate Sports Co. on November 1, 2014, indicated a balance of $81,145. During November, the total cash deposited was $293,150, and checks written totaled $307,360. The bank statement indicated a ...The inventory at the end of the year was understated by $14,750. (a) Did the error cause an overstatement or an understatement of the gross profit for the year? (b) Which items on the balance sheet at the end of the year ...
Post your question