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When recording cash sales, how much would cash be debited for if sal

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When recording cash sales, how much would cash be
debited for if sales receipts totaled $5475 and cash
short/over is credited for $93? What would your credit to
sales be?
Please show work
Solution
Cash is an asset account. An asset account is debited
when there is an increase, and credited when there is a
decrease.
So, if Cash account is credited for $93, that means the
cash account decreased by $93.
On the other hand, sales receipts are $5475. So cash
increases & cash account is debited with $5475.
The net increase in cash account will be: $(5475 - 93) =
$5282
Sales account will be credited (An increase in revenue is
always credited) with the entire amount of sales, that is,
$5475. The adjustment to cash account will not impact the
sales account.

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When recording cash sales, how much would cash be debited for if sales receipts totaled $5475 and cash short/over is credited for $93? What would your credit to sales be? Please show work Solution Cash is an asset account. An asset account is debited when there is an increase, and credited when there is a decrease. So, if Cash account is credited for $93, that means the cash account decreased by $93. On the other hand, sales receipts are $5475. So cash increases & cash account is debited with $ 5475. The net increase in cash account will be: $(5475 - 93) = $5282 Sales account will be credite ...
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