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The cash register tape for Marin Industries reported sales of $8,795.50. Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $64.96.(b) Cash on hand exceeds cash reported by cash register tape by $36.24

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Answer:

The Journal entries are as follows:

(a)

Cash A/c [$8,795.50 - $64.96]     Dr. $8,730.54

Cash over and short A/c                Dr. $64.96

To sales revenue                                                     $8,795.50

(To record the cash shortage)

(b)

Cash A/c [$8,795.50 + $36.24]    Dr. $8,831.74

To sales revenue                                                     $8,795.50

To Cash over and short A/c                                    $36.24    

(To record the excess cash)          

bihariyadeep28

The journal entries for the given question are in the attachment below.

What is journal entry?

Journal entry is the very first step of the accounting process of preparing financial statements and balance sheet. Journal entry is the process of recording transactions which are either monetary or non monetary in nature. However only monetary transactions are considered while preparing financial statements.

The journal entries are given in the attachment below.

Learn more about journal entries here:

https://brainly.com/question/17439126

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