A Cashier for Seaside Electronics Rang Up Sales Totaling $8,000,but

question 70

Multiple Choice

A cashier for Seaside Electronics rang up sales totaling $8,000,but had only $7,994 to deposit,which journal entry would be recorded? A debit to:

• A)Cash of $7,994 and Cash Shortage of $6 and a credit to Sales Revenue of $8,000.
• B)Sales Revenue of $7,994 and Cash Shortage of $6 and a credit to Cash of $8,000.
• C)Cash of $7,994 and a credit to Cash Shortage of $6 and Sales Revenue of $8,000.
• D)Cash of $7,994 and Cash Shortage of $6 and a credit to Unearned Revenue of $8,000.

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Definitions:

Corporate Promoter

An individual or entity that undertakes the efforts to organize and establish a corporation, including arranging initial capital, legal requirements, and business plans.

Liable

Subject to legal responsibility or obligation, typically involving financial restitution.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another party, such as a trustee's duty towards a beneficiary.

Corporation

A legal entity created under the laws of a state or a country, recognized as a separate legal entity from its owners, with its own rights, privileges, and liabilities distinct from those of its members.