The Following Selected Transactions Relate to Cash Collections for a Firm

question 201

Essay

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, $\$ 3,712.16$ .

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