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what is entry for salary paid in advance ?
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Answer Posted / amit
Payment..
Advance salary a/c ...Dr.1000
To Cash / Bank a/c...Cr....1000
then
Journal
Salary a/c ...Dr. 5000
To Advance Salary a/c Cr. 1000
To Salary Payable a/c Cr. 4000
Payment
Salary Payable a/c ...Dr. 4000
To Cash / Bank ... Cr. 4000
| Is This Answer Correct ? | 139 Yes | 11 No |
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