Question

Salaries paid to employees. Journal entry?

Answer 1

golden principles of accounting .

personal account rule

dr- the receiver.

cr- the giver.

real account rule

dr- what comes in.

cr- what goes out.

nominal account rule.

dr- all expenses and losses.

cr- all incomes and gains.

the journal entry will be

salaries a/c dr

to cash a/c

( being salaries paid by cash. )

here salaries a/c is debited see nominal a/c rule

here cash a/c is credited see real a/c rule