Question

Payment of salary is recorded in the books of accounts? And why?

Answer 1

Answer:

Every business transaction affects two accounts as accounting is based on double entry system of accounting. For every debit there will be a credit and vice versa.

Accounting entry for payment of salary will be:

Salary A/c Dr. (debit all the expense)

To Cash A/c (credit what goes out)

Salary is an expense and will be charged to profit & loss account

Answer 2

Answer:

Every business transaction affects two accounts as accounting is based on double entry system of accounting. For every debit there will be a credit and vice versa.

Accounting entry for payment of salary will be:

Salary A/c Dr. (debit all the expense)

To Cash A/c (credit what goes out)

Salary is an expense and will be charged to profit & loss account.

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