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The following selected transactions relate to cash collections for a firm that maintains a $100 change fund at all times. Present entries to record the transactions for each of the two days of cash receipts from sales.
(a)Actual cash in cash register, $5,412.36; cash receipts per cash register tally, $5,413.07.
(b)Actual cash in cash register, $3,712.95; cash receipts per cash register tally, $3,712.16.
Net Present Value
A financial metric that calculates the present value of an investment's cash inflows and outflows over time to determine its profitability.
Budget
An estimate of income and expenditure for a set period of time, often used to plan and control finances within organizations or by individuals.
Orlando
A city in central Florida, known for its theme parks, including Walt Disney World and Universal Studios.
Minnesota
A state located in the Midwestern United States, known for its large number of lakes and cold winters.
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