Question

At the end of a shift, the sales clerk turned over $21,476.38 in cash, checks, and credit card receipts to the cashier. when the supervisor looked at the cash register tape for that shift, the tape stated that the sales clerk had sold $21,478.23 in merchandise. what should the company do as a result of this difference?

Answer 1

in this situation, the company should Enter a debit of $1.85 in the Cash Over and Short account.
By doing this, the amount of difference will be covered on the adjustment that made on the account and the calculation for the net profit and cash flows will be back to the correct value,