On February 1 Sunset Surfwear issued Check 115 to establish a change fund of $150. At the
Question:
On February 1 Sunset Surfwear issued Check 115 to establish a change fund of $150. At the end of the business day on February 2, the shop’s cash register tape showed cash sales of $340 plus sales taxes of $17. An actual cash count of the money indicated that $505 was in the cash register drawer.
Instructions
1. Record the entry to establish the change fund on page 1 of the general journal.
2. Prepare a cash proof for Feb. 2. Sign your name on the Salesclerk line.
3. Record the cash sales for Feb. 2 on page 1 of the general journal.
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1 The record is as follows i Cash in Bank is reduced by the amount of cash that was deposited into t...View the full answer
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