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    deon's Avatar
    deon Posts: 2, Reputation: 1
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    #1

    Dec 9, 2006, 05:27 PM
    Journalizing the receipt of cash
    At the end of the day, the cash register tape lists $827.27 as total income from services. Cash on hand consists of $15.27 in coins, $694.00 in currency, $80 in traveler's checks, and $236.00 in customers' checks. The amount or the change fund is $200. How do I record this in the general journal form? Please help.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Dec 9, 2006, 08:25 PM
    Dr. Cash 827.27
    Cr. Sales 827.27

    Unless your teacher wants you to break up Cash in coins, currency, traveler's checks, etc.

    But I don't see why he/she would want that.
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