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 $200.00 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?

Transcribed Image Text:

Cash Register Receipt Amount $292.50 Actual Cash Counted Change Fund $200.00 Date Aug. 1 $495.00 501.50 200.00 305.00 200.00 200.00 200.00 15 22 29 286.00 330.25 299.20 486.00 532.75 495.00