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Answer Posted / madhav
USUALLY SALARY IS A NOMINAL ACCOUNT IN NATURE. AND ANY
EXPENSES SHOULD BE DEBITED TO THE CONCERNED ACCOUNT WITH
CASH OR BANK.
THE MAIN REASON WOULD BE:
DEBIT ALL EXPENSES &
CREDIT WHAT GOES OUT.
THE JOURNAL ENTRY WOULD BE :
SALARY A/C Dr XXXX
TO CASH/BANK A/C XXXX
(being salary paid through cash or bank )
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