Fun Facts about Cash Register

What happened when the cashier counted the cash in the cash register at the end of the night?

1. The total cash sales recorded by the company's cash register?

2. The amount counted by the cashier?

3. What action should the company's accountant take to address the discrepancy?

Answers:

1. The company's cash register recorded total cash sales of $550.

2. The cashier counted only $547 in cash.

3. The accountant should record a credit to the SALES account for $3, the amount the register was short.

In this fun scenario involving the cash register, let's dive into the details:

Total Cash Sales Recorded vs. Amount Counted

The company's cash register recorded total cash sales of $550, indicating that customers paid the company $550 in cash for their purchases. However, when the cashier counted the cash in the register at the end of the night, they found only $547. This discrepancy of $3 means that the register was short by that amount.

Action by the Accountant

To address this discrepancy between the recorded sales and the actual cash collected, the company's accountant should take corrective action. The accountant should record a credit to the SALES account for $3, the amount that the register was short. This adjustment ensures that the company's financial records accurately reflect the cash transactions that took place.