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The cash in a cash register equaled $100, but the record of cash receipts/sales equaled $102. Determine which of the following entries is correct to record cash sales and the shortage. A. Debit Cash $102
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34 votes
34 votes
The cash in a cash register equaled $100, but the record of cash receipts/sales equaled $102. Determine which of the following entries is correct to record cash sales and the shortage.

A. Debit Cash $102 and credit Sales $102.
B. Debit Cash $100; debit Cash Over and Short $2; and credit Sales $102.
C. Debit Cash $102; credit Cash Over and Short $2; and credit Sales $102.
D. Debit Cash $100; credit Cash Over and Short $2; and credit Sales $102.

User Doug E Fresh
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1 Answer

14 votes
14 votes

Answer: B. Debit Cash $100; debit Cash Over and Short $2; and credit Sales $102.

Step-by-step explanation:

User BlueDolphin
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