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Exercise 4-43 (Algorithmic) Cash Over and Short Miller Enterprises deposits the cash received during each day at the end of t
1. Calculate the amount of cash over or cash short for each day. Enter negative values as negative numbers. Cash Over (Short)
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Answer #1

Cash over on 10/3=Cashsales+collection on account-Cash deposited

=36,880+11,555-$48,287

Cash over on 10/3=$148

Cash over on 10/4=Cash sales+Collection on account-Cash deposited

=$40,310+$9,813-$50,116

Cash over on 10/4=$7

Journal entry on 10/3

Date General Journal Debit Credit
October 3 Cash sales $ 36,880
collection on account $11,555
Cash deposited $48,287
Cash over $148
(Cash receipt and deposit recorded)
Date General Journal Debit Credit
October 3 Cash sales $ 40,310
collection on account $9,813
Cash deposited $50,116
Cash over $7
(Cash receipt and deposit recorded)
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