Cash sales rung up by cashiers totaled $117,000. Cash in the drawer was counted and found to be $119,000. The journal entry to record the day’s sales would include a:
A. debit to Cash for $117,000.
B. credit to Cash Overage for $2,000.
C. credit to Sales Revenue for $119,000.
D. debit to Sales Revenue for $117,000.
Answer:B
Cash sales rung up by cashiers totaled $117,000. Cash in the drawer was counted and found to be $119,000. The journal entry to record the day’s sales would include a:
A. debit to Cash for $117,000. B. credit to Cash Overage for $2,000. C. credit to Sales Revenue for $119,000. D. debit to Sales Revenue for $117,000.