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WE have paid two month Advance salary on dated 03 June 2010.
What will be journal entry inthe month of june for advance
payment. And what will be journal entry in the month of
july and August for salary adjustment.
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Answer Posted / naveen
If Salary is 20000 p.m
in June
Salary Advance A/c Dr.40000
to Cash/ Bank A/c 40000
(Being the Adv. Salary paid for the month of July & Aug)
In july
Salary A/c Dr. 20000
to Salary Advance A/c 20000
(Being the Salary Advance recovered for July)
In August
Salary A/c. Dr. 20000
Salary Acvance A/c 20000
(Being the Salary Advance recovered for Aug )
| Is This Answer Correct ? | 13 Yes | 1 No |
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