what is entry for salary paid in advance ?

Answer Posted / amit

Payment..

Advance salary a/c ...Dr.1000
To Cash / Bank a/c...Cr....1000

then

Journal
Salary a/c ...Dr. 5000
To Advance Salary a/c Cr. 1000
To Salary Payable a/c Cr. 4000

Payment
Salary Payable a/c ...Dr. 4000
To Cash / Bank ... Cr. 4000

Is This Answer Correct ?    139 Yes 11 No



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