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 / prasanna kumar sahoo
Advance paid to Employee
Prepaid expense a/c dr $1000
To Cash a/c $1000
Incurred exp and return remaining money
Employee misc expense a/c dr $800
Cash a/c dr $200
To Prepaid expense $1000
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