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please explain me, if I pay salary advance 3000 to satish
then how to record entry, for payment, journal, adjustment
if salary is 1500/month
please send me correct entry shortly
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Answer Posted / biswajit kolay
Advance salary paid Rs.3000
Advance Salary A/c (Satish) Dr. 3000
to Cash/Bank A/c Cr. 3000
At time of payment salary
Salary A/c (Satish) Dr. 1500
to Advance Salary A/c (Satish)Cr. 1500
and the balance of advance salary Rs.1500/- will be adjusted in next salary payment
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