difition of reserve & surplus
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the following information wads extracted ffrom the book of a business man :debtors as on 31/12/1987 $25000 bad debts during 1987 $1000.provision for doubtful debts is to be maintained at 5%. a provision for discount is also at 2%. you are required to calculate the amount set aside in respect of provision for doubtful debts and provision for discounts on debtors respectively
please explain me, if I pay salary advance 3000 to satish then how to record entry, for payment, journal, adjustment if salary is 1500/month please send me correct entry shortly
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