The Cash Short and Over Ledger Account,which Records the Difference

question 23

Multiple Choice

The Cash Short and Over ledger account,which records the difference between the total of the cash register tape and the actual cash counted from the register,is:

• A)Closed to the Profit and Loss Summary account
• B)Included in the bank reconciliation
• C)Deducted from the Bank account balance in the ledger
• D)Appears on the Balance Sheet as liability

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