The cash in a cash register equaled $100, but the record of cash receipts/sales equaled $102. Determine which of the following entries is correct to record cash sales and the shortage.Multiple choice question.Debit Cash $100; credit Cash Over and Short $2; and credit Sales $102.Debit Cash $100; debit Cash Over and Short $2; and credit Sales $102.Debit Cash $102 and credit Sales $102.Debit Cash $102; credit Cash Over and Short $2; and credit Sales $100.

Select all that applyA cash register tape reflected total sales equaling $100, but the cash in the cash register drawer equaled $105. Review the statements below and determine which is correct regarding this discrepancy.Multiple select question.The Cash Over and Short account will be credited for $5.The Sales account will be credited for $100.The Cash Over and Short account will be debited for $5.The Sales account will be credited for $105.The Cash account will be debited for $105.The extra $5 collected will be treated as a miscellaneous revenue.

Select all that applyA company sells a machine that cost $7,000 for $500 cash. The machine had $6,500 accumulated depreciation. The entry to record this transaction will include which of the following entries?Multiple select question.Credit to Cash for $500.Debit to Loss on Sale of Machinery for $500.Credit to Machinery for $7,000.Debit to Cash for $500.Debit to Accumulated Depreciation - Machinery for $6,500.Credit to Gain on Sale of Machinery for $500.Credit to Accumulated Depreciation - Machinery for $6,500.Debit to Machinery for $7,000.

Multiple Choice QuestionThe cash conversion cycle is computed as:Multiple choice question.days' sales in accounts receivable plus days' sales in inventory minus days' payable outstandingdays' sales in accounts receivable minus days' sales in inventory times days' payable outstandingdays' sales in accounts receivable minus days' sales in inventory minus days' payable outstandingdays' sales in accounts payable plus days' sales in inventory minus days' payable outstanding

Which of the following is recorded with a debit to Cash and a credit to Interest Receivable?Multiple choice question.The establishment of a noteThe receipt of the principal paymentThe adjusting entry to record interest owedThe receipt of an interest payment for interest previously recorded

A company established a petty cash fund for $150. At the end of the month, the cash count was $72 and the cash receipts totalled $72. Of this $33 was spent on postage stamps, $25 was spent on delivery expense, $14 to purchase some office supplies. Which of the following is TRUE?Select answer from the options belowthe cash receipts total is the same as the amount of the replenishment chequethere is a cash shortagethe cash receipts total less than the amount of the replenishment chequethe cash receipts total more than the amount of the replenishment cheque