View Full Version : What will credit be?
 
 heathermwittman
Nov 21, 2013, 12:26 PM
When recording cash sales, how much would cash be debited for if sales receipts totaled $5475 and cash short/over is credited for $93? What would your credit to sales be?
 
Find total payments made from an $80 petty cash fund if there’s a $4 shortage and $6 actually left in the account.
 Curlyben
Nov 21, 2013, 12:53 PM
What do YOU think ?
While we're happy to HELP we wont do all the work for you.
Show us what you have done and where you are having problems..
 maizy142351
Nov 22, 2013, 08:45 AM
I have a problem similar to this question. For this I figured: 
 
My answer is: 
 
Cash Sales 5,475 dr 
Cash short/over 93 cr 
Cash 5382 dr 
 
Credit sales would be -$105?
 
My numbers are slightly different but I just plugged these numbers listed above. 
 
 
As for the Second question:  
Petty Cash           $80 dr
Cash                                   $80cr
 
Miscellaneous Expense   $76
Cash Shortage                 $4cr
Cash                                              $80cr    
 
 
 
Do I have the right idea to this question?