Small differences between cash sales and the amounts on the cash register are directly debited or credited to the cash account.

Question

Quizplus · Accepted Answer

Small differences between cash sales and the amounts on the cash register are typically recorded in a Cash Over and Short account, which is a separate account used to track discrepancies between recorded amounts and actual cash. This helps maintain the accuracy of the cash account.

Small Differences Between Cash Sales and the Amounts on the Cash