Question

please give and explain the journal entry for salary paid to a partner

pls explain the logic behind it

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class 12 Accountancy​

Answer 1

Answer:

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Explanation:

Salary payable can be attributed to the type of payroll journal entry that shall be used to record in the books of account the compensation which shall be paid to the employees. It is usually included in the current liabilities on the balance sheet as it is expected to be paid within one year.