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"i have received half of the salary in advance and another
half in the end of month" what will be the journal entry for
this?
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Answer Posted / harish kumar
There will be two entries for this entry
1. First advance half salary.
Dr. Advance (Name of the Person)Ram Lal A/c
Cr. Cash / Bank A/c
2. Second when you book salary
Dr. Salary Paid A/c
Cr. advance (Name of the person) Ram Lal A/c
Cr. Salary Payable A/c
Advance Ram Lal account will be Nil.
| Is This Answer Correct ? | 5 Yes | 5 No |
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