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7 November, 07:53

Record the journal entry for Sales and for Cash Over and Short for each of the following separate situations. The cash register's record shows $560 of cash sales, but the count of cash in the register is $598. The cash register's record shows $1,148 of cash sales, but the count of cash in the register is $1,112.

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  1. 7 November, 11:23
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    The journal entries are shown below:

    1. Cash A/c Dr$598

    To Sales $560

    To Cash over and short $38

    (Being the cash sales are recorded and the remaining balance is credited to the cash over and short account)

    2. Cash A/c Dr $1,112

    Cash over and short A/c Dr $36

    To Sales A/c $1,148

    (Being the cash sales are recorded and the remaining balance is debited to the cash over and short account)
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