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What is the balance in the cash short account

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Reference no: EM132599148

Jenrob Company completed the following selected transactions during January 20XX.

January

1 Established a petty cash fund of $500

15 The cash sales for the day per the register tape were $3,018.

The actual cash received from cash sales were $3,011.

31 Petty cash on hand was $123. Replenished the petty cash fund for the following disbursements:

Jan 2 Office supplies, $45

10 Postage due on letter, $29 (Miscellaneous Expense)

14 Office supplies, $56.

17 Postage stamps, $42 (Office Supplies).

20 Express charges on merchandise sold, $136 (Delivery Expense).

22 Repair to desk, $63 (Miscellaneous Expense).

30 Office supplies, $12.

31 The cash sales for the day per the register tape were $2,812.

The actual cash received from cash sales were $2,822.

31 Decreased the petty cash fund by $100.

Question 1: What is the balance in the cash short/over account (DR or CR & $ amount)? Is it a revenue or an expense?

Reference no: EM132599148

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