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What is the entry for Salary for the month of March if the
books closed on 31-03. Before 31st March and after 31st
March?
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Answer Posted / satyaki_raju@yahoo.com
On 31st March
salaries a/c dr
To Charges payable
(Being salaries transfered to charges payable account)
After 31 March
Charges payable a/c dr
To cash/bank a/c
(Being payment made for the march month salary)
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