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At the End of the Day, the Cash Register Tape

Question 26

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 record cash sales and its overage 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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