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