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At the End of the Day,the Cash Register Tape Shows

Question 123

Multiple Choice

At the end of the day,the cash register tape shows $1,020 in cash sales but the count of cash in the register is $1,035.The proper entry to account for this excess is:


A) Debit Cash $1,020;credit Sales $1,020.
B) Debit Cash $1,035;credit Sales $1,035.
C) Debit Cash $1,035;credit Sales $1,020;credit Cash Over and Short $15.
D) Debit Cash $1,020;debit Cash Over and Short for $15;credit Sales $1,035.
E) Debit Cash Over and Short $15;credit Cash $15.

Correct Answer:

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