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The accountant for Barb's Bookstore balanced out the cash register for the day. The register indicates $1,031.50 in sales, the...

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The accountant for Barb's Bookstore balanced out the cash register for the day. The register indicates $1,031.50 in sales, the change fund at the beginning of the day was $125 and the actual cash in the register is $1,150.25 (including the change fund, previously accounted for). What is the effect on the financial statements of the entry to record the day's sales and any related overage or shortage?

 

Paper#77170 | Written in 18-Jul-2015

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