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What is the Journal Entry for Prepaid Expenses and
OutStanding Salary?

Answer Posted / d.vinay

for prepaid expense:

1.prepaid expense a/c dr
TO concerned expense a/c

eg:-for prepaid salary entry will be

prepaid salary account dr
TO salary account


for outstanding expenses :

1.expense a/c dr
TO outstanding expenses a/c

eg:- for out sanding salary

salary a/c dr
TO outstanding salary a/c

Is This Answer Correct ?    19 Yes 5 No



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