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if a company has to pay the salary in the month of april for
the months of march,apil,and may to a person who joined in
the company on 15march.
what are the entries for the transaction ?
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Answer Posted / gopal singh mehta
For the Month of March Salary:
At the Time of Accrual:
Salary Exp Dr.
Salary Payable Cr.
At the time of payment:
Salary Payable Dr.
Bank/Cash Cr.
For the Month of Apr. & May.
At the time of payment of salary in the Month of Apr.
Prepaid Salary A/c Dr.
Bank/cash Cr.
If there is any mistake let me know.
Thanks,
Gopal Singh Mehta
| Is This Answer Correct ? | 7 Yes | 4 No |
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