What is cash float and does it fall under cash payment journal and cash receipt journal

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asked Aug 10, 2023 6.0k views

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Denikov · Answer 1 · 2023-08-16T10:06:50+0000

Answer:

Retail businesses, including restaurants, that frequently deal in cash often employ a cash float. This refers to the amount of cash placed in registers at the beginning of a shift or workday. The cash float typically consists of a nominal amount of money, such as $50, broken up across several denominations and change.

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What is cash float and does it fall under cash payment journal and cash receipt journal

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What is cash float and does it fall under cash payment journal and cash receipt journal