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Journal entry of outstanding wages is
Wages a/c dr
TO O/s wages a/c
In the Above journal entry why outstanding wages has to be
credited ? and o/s wages comes under which account, and why
(Personal, Real, Nominal)
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Answer Posted / muhammed ansar
Generally only expenses are classified under three heads according to their nature. However; outstanding wages is not an expense . It is a liability raised out of the expense of wages. So it can't be classified as expense. It is based on the expense of wages which falls under nominal account .
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