A $100 petty cash fund has cash of $20 and receipts of $82. the journal entry to replenish the account would include a debit to Cash Over and Short for $2.If a cashier or bank teller makes a mistake, such as giving too much or too little change, the business will conclude the day with "cash short" or "cash over" position.
When there is a shortage, the excess and short funds are recorded as debit. That indicates that we have given clients too much change. When there is an overage, however, excess and deficit in cash are recorded on credit.
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