Answer:
Mar 1
Dr Petty Cash $771.00
Cr Cash $771.00
Mar 31
Dr Office Supplies $33.00
Dr Selling Expenses 113.00
Cr Cash Short and Over $27.00
Cr Cash $119.00
Step-by-step explanation:
Preparation of the entry to Record any discrepancy in the cash short and over account.
Mar 1
Dr Petty Cash $771.00
Cr Cash $771.00
(To record petty cash)
Mar 31
Dr Office Supplies $33.00
Dr Selling Expenses 113.00
Cr Cash Short and Over $27.00
[($33+$133+$632)-$771]
Cr Cash $119.00
(33+$133-$27)
(To Record discrepancy in the cash short and over account)