10600     ENTRY NO. A–1 [GENERAL CASH IS ADJUSTED FOR UNDEPOSITED RECEIPTS]
(Revised 5/95)

Nature of Transaction:

The General Cash account is adjusted for undeposited receipts as of June 30 so that the agency accounts will show the actual amount of general cash in agency accounts with the State Treasurer as of that date. (This entry is made as of June 30 and reversed as of July l.)

Journal Entry for General Ledger Accounts:
Debit:
1190 Cash on Hand
Credit:
1110 General Cash
 
Source:
Analysis of General Cash Receipts Register at June 30.

Explanation:
During the fiscal year Account No. 1110, General Cash, shows all cash receipts deposited and to be deposited in the General Cash account. This adjusting entry is made in the General Ledger as of June 30 each year to reduce, for year-end statement purposes, the balance of the General Cash account to the cash (including deposits in transit) in the agency account with the State Treasurer.
The General Cash Receipts Register will be analyzed to determine the amount of general cash received by June 30 but not deposited as of that date.