Comments for Cash Receipts Journal...Over/Short

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Aug 25, 2011
RE: Cash Receipts Journal... Over/Short
by: Npoe

NO. Do not add it to the Sales column. Although you will be able to make the credits and debits match, it's going to throw your Cash account off.
Deduct the $2 shortage from the amount you will enter into the Cash Dr. column before entering it.(you would of course add to the amount if it were over)
When all columns are transferred to the appropiate ledger accounts, you will understand why it is done this way.

Hope this helps!

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