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While examining cash receipts information, the accounting department determined the following information:?

• While examining cash receipts information, the accounting department determined the following information: opening cash balance $150, cash on hand $1,125.74, and cash sales per register tape $990.83. Prepare the required journal entry based upon the cash count sheet. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)

• Answer:

  150 + 990.83 = 1,140.83 what should be in the till. 1,140.83 - 1,125.74 = 15.09 short 1,125.74 - 150 = 975.74 increase in cash Dr Cash 975.74 Dr Cash Over/Short 15.09 Cr Sales 990.83