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Advance paid to Employee 1000$. Employee incurred expenses
of 800$ and he returned 200$. What is the Accounting Entry?

Answer Posted / prasanna kumar sahoo

Advance paid to Employee

Prepaid expense a/c dr $1000
To Cash a/c $1000

Incurred exp and return remaining money

Employee misc expense a/c dr $800
Cash a/c dr $200
To Prepaid expense $1000

Is This Answer Correct ?    3 Yes 2 No



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