If a Cashier Rang Up Sales Totaling $5,096,but Had $5,100

question 187

Multiple Choice

If a cashier rang up sales totaling $5,096,but had $5,100 to deposit,which journal entry would be recorded?

• A) A debit to Cash for $5,100, a credit to Cash Overage for $4, and a credit to Sales Revenue for $5,096.
• B) A debit to Sales for $5,100, a debit to Cash Overage for $4, and a credit to Cash for $5,096.
• C) A debit to Cash for $5,096, a debit to Cash Shortage for $4, and a credit to Sales Revenue for $5,100.
• D) A debit to Cash for $5,096, a debit to Cash Shortage for $4, and a credit to Unearned Revenue for $5,100.

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Definitions:

Economies of Scope

Cost advantages that enterprises obtain by producing a wide range of products, diversifying their output, and sharing production inputs.

Economies of Scope

Cost advantages that enterprises obtain due to the efficient production of a wide range of products rather than specializing in a single product or service.

Joint Cost Function

A concept in economics where certain costs are incurred to produce multiple products simultaneously, making it challenging to allocate the costs distinctly to each product.

Economies of Scope

Cost advantages that enterprises obtain through the variety of products rather than through a high volume of a single product.