Consider the Following Journal Entry Made by Jones Company for One

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The Answer is There are many possibilities,but the most likely culprits are as follows:
1.The beginning change fund in the drawer was not considered.
2.A collection of an accounts receivable could have not been recorded,makingthe cash "heavy" to sales.
3.A customer may have used a debit card and requested $100 cash back thatwas not given to the customer
(expect a call from the customer).
4.A sale for the exact amount of $100 was not recorded into the sales of thecash register.However,this is a VERY improbable occurrence.
5.A void could have taken place and the cash not refunded or possibly notremoved.In this case,you would certainly investigate the voided items and theactions of the cashier as well as the history of cash reconciliations for thiscashier.

Consider the Following Journal Entry Made by Jones Company for One

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Consider the Following Journal Entry Made by Jones Company for One

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Correct Answer:VerifiedShow Answer

Correct Answer:
Verified