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WE have paid two month Advance salary on dated 03 June 2010.
What will be journal entry inthe month of june for advance
payment. And what will be journal entry in the month of
july and August for salary adjustment.
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Answer Posted / gagan singh
Advance Salary A/c RS. 20000/- DR
TO BANK/CASH RS.20000/- CR
BEING ADV AMOUNT PAID FOR M/O JUL & AUG'10 RS, 10K & 10k
RESPECTIVALY.
ENTRY FOR M/O JULY & AUG'10
SALARY A/C RS. 10000/- DR
Advance Salary A/c Rs. 10000/- CR
BEING AMOUNT OF ADV SLY ADJUSTED FOR SLY DUE IN M/O JUL'10
SAME AS M/O AUG'10
| Is This Answer Correct ? | 18 Yes | 0 No |
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