Question

Salary of A nd B is 2000 and 3000 respectively. Due date is 31st January. But salary paid to A nd B in February 5th . What is the journal entrey ?

Answer 1

Outstanding salary A/C dr. 5000

To salary A/C. 5000

(Being salary is not paid )

When salary is paid on 5 th feb. entry will be:

Salary A/C Dr. 5000

To Outstanding A/C. 5000

(Being salary paid)