A credit balance in Cash Over and Short is reported as a(n)
A) asset.
B) liability.
C) miscellaneous expense.
D) miscellaneous revenue.

Question

Quizplus · Accepted Answer

Cash Over and Short is a revenue account that represents the difference between actual cash received and the amount expected to be received. A credit balance in this account means that the actual cash received was more than the expected amount, resulting in a miscellaneous revenue.

A Credit Balance in Cash Over and Short Is Reported