Examples each for golden rules of accounting
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Answer Posted / adapa.hemaseshasaithi
payable wages which is also called as the outstanding wages is the representative personal a/c because it is representing that certain amount is payable to a person and it is the liability for the business concern. the journal entry for the payable wages is as follows:
wages a/c dr
To outstanding wages a/c it is shown on the liabilities side of the balance sheet.
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