Question

Cash Short and Over Entries 1. Based on the information, prepare the weekly entries for cash receipts from service fees and cash short and over. A change fund of $100 is maintained. If an amount box does not require an entry, leave it blank. When required, enter amounts in dollars and cents. Date Change Fund Cash Register Receipt Amount Actual Cash Counted Apr. 2 $100 $268.50 $366.50 9 100 237.75 333.50 16 100 309.25 411.00 23 100 226.50 324.00 30 100 318.00 422.00

Answer 1

Answer:

Explanation:

The journal entries are shown below:

On April 2

Cash A/c Dr $266.50

Cash short and over A/c Dr $2

            To service fees revenue A/c $268.50

(Being service fees revenue is recorded)

On April 9

Cash A/c Dr $233.50

Cash short and over A/c Dr $4.25

            To service fees revenue A/c $237.50

(Being service fees revenue is recorded)

On April 16

Cash A/c Dr $311.00

            To Cash short and over A/c Dr $1.75

            To service fees revenue A/c $309.25

(Being service fees revenue is recorded)

On April 23

Cash A/c Dr $224.00

Cash short and over A/c Dr $2.50

            To service fees revenue A/c $226.50

(Being service fees revenue is recorded)

On April 30

Cash A/c Dr $322.00

            To Cash short and over A/c Dr $4.00

            To service fees revenue A/c $318.00

(Being service fees revenue is recorded)