The following selected transactions relate to cash collections for a firm that uses a cash register. Present entries to record the transactions for each of the two days of cash receipts from sales. (a) Actual cash in cash register, $4,706 cash receipts per cash register tally, $4,720.
(b) Actual cash in cash register, $4,742 cash receipts per cash register tally, $4,614.
(Round your answers to two decimal places)
CHART OF ACCOUNTS - General Ledger
ASSETS:
110 Cash 111 Petty Cash 120 Accounts Receivable
131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory
145 Supplies 151 Prepaid Insurance 181 Land
191 Equipment 192 Accumulated Depreciation
LIABILITIES:
210 Accounts Payable 221 Notes Payable 222 Interest Payable
231 Salaries Payable 241 Sales Tax Payable
EQUITY:
310 Common Stock 311 Retained Earnings 312 Dividends
313 Income Summary
REVENUE
410 Sales 610 Interest Revenue
EXPENSES
510 Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over
520 Salaries Expense 531 Advertising Expense 532 Delivery Expense
533 Insurance Expense 534 Supplies Expense 535 Rent Expense
536 Repairs Expense 561 Depreciation Expense 591 Miscellaneous Administrative Expense
592 Miscellaneous Selling Expense 710 Interest Expense
Actual cash in cash register, $5,412.36;
cash receipts per cash register tally, $5,413.07 on December 31.
(Round your answers to two decimal places)
Actual cash in cash register, $3,712.95;
cash receipts per cash register tally, $3,712.16 on December 31.