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21 December, 01:49

Discount Store, a retail business, keeps a $100 change fund in its cash register. If Discount started business on September 29 and had cash sales per the cash register on that day of $1,200, but the cash count showed $1,307, then the cash register was:

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  1. 21 December, 04:15
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    Actual Cash is excess by $7 after balancing the cash position.

    Explanation:

    When the cash counted is more than the cash register plus the Change fund kept, the cash balance is excess.

    Cash Fund = $100

    Cash Counted = $1,307

    Net Cash from Sales = $1,307 - $100 = $1,207

    Cash Register Balance = $1,200

    Net Effect = Actual cash - Cash register balance = $1,207 - $1,200 = $7
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