Milner Department Store has one cash register on which it performs daily cash counts. Recently, the cash count indicated that there was $5,887.29 in the register after deducting and removing the opening change amount of $75.00. However, the cash register tape reported sales in the amount of $5,844.73. Milner deposited its cash collected in its bank account.

Milner Department Store has one cash register on which it performs daily cash counts. Recently, the cash count indicated that there was $5,887.29 in the register after deducting and removing the opening change amount of $75.00. However, the cash register tape reported sales in the amount of $5,844.73. Milner deposited its cash collected in its bank account.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 7E

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