Recording cash sales; cash over Template Required, accounting homework help


Recording cash sales; cash over

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The actual cash received from cash sales was $14,356, and the amount indicated by the cash register total was $14,290.

  • a.What is the amount deposited in the bank for the day’s sales?
  • b.What is amount recorded for the day’s sales?
  • c.How should the difference be recorded?
  • d.If a cashier is consistently over or short, what action should be taken?


Bank reconcilliation


Adjusted balance: $24,500

The following data were accumulated for use in reconciling the bank account of Camela Co. for July:

  • a.Cash balance according to the company’s records at July 31, $24,010.
  • b.Cash balance according to the bank statement at July 31, $22,750.
  • c.Checks outstanding, $7,350.
  • d.Deposit in transit, not recorded by bank, $9,100.
  • e.A check for $170 in payment of an account was erroneously recorded in the check register as $710.
  • f.Bank debit memo for service charges, $50.

Prepare a bank reconciliation, using the format shown in Exhibit 6.

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