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Problem 1: At the end of the day, the cash register's record shows $1,050, but the count of cash in the cash register is $1,055. There was $0 cash in the drawer at the beginning of the day. The correct entry to record the cash sales is:
Group of answer choices
Option 1: Debit Cash $1,050; credit Sales $1050.
Option 2: Debit Cash $1,055; credit Cash Over and Short $5; credit Sales $1,050
Option 3: Debit Cash $1,050; debit Cash Over and Short $5; credit Sales $1,055
Option 4: Debit Cash $1,055; Credit Sales $1,055.
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