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Advance paid to Employee 1000$. Employee incurred expenses
of 800$ and he returned 200$. What is the Accounting Entry?
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Answer Posted / jalu
Advance paid to Employee 1000$. Employee incurred expenses
of 800$ and he returned 200$. What is the Accounting Entry?
Advance paid to employee:
Prepaid expenses a/c dr 1000$
To Cash a/c 1000$
Employee incurred expenses entry:
Employee miscellaneous exp a/c 800$
To Prepaid expenses a/c 800$
For Return:
Cash a/c Dr 200$
To Prepaid expenses 200$
am i right?
| Is This Answer Correct ? | 19 Yes | 0 No |
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