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what is entry for salary paid in advance ?
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Answer Posted / yoosaf
TOTAL SALARY 10,000. Paid in Advance 2000
Journal
Salary A/c 10000 Dr.
Salary Advance 2000 Cr.
Salary Payable 8000 Cr
Then Payment
Salary Advance 2000 Dr.
To cash 2000. Cr
Balance Payment
Salary Payable A/c 8000 Dr
To Cash 8000. Cr
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