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what is the Journal entry for Salaries outstanding? Giv an
example.
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Answer Posted / balu
salaries a/c dr
To salary outstanding A/c
Being salary due
payment entry:
salary outstanding a/c
To Cash/Bank a/c
Being payment made
Reason: first we credited salary outstanding a/c it was nullified when it is debited.If cash paid cash a/c if payment made by cheque Bank a/c
then final entry
salary a/c dr
To Cash/Bank A/c
Being salary clear
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