![]() ![]() The journal entry is to record salaries due to the entity’s employees. Recommended Article: Fictitious Assets (also called as Unreal Assets) Salary journal entry example: Let’s look into various journal entries relating to the Salary Journal Entry when payment happens: Journal Entries relating to the Salary: We need to debit the Salary GL to increase the expenditure with a corresponding credit to the Salary Payable GL per the above rules. Per Modern Accounting Rules, Salary Paid Journal Entry: First, we need to understand when shall a GL account will be on the debit side or credit side of the journal entry. The GL Accounts involved here are Salary Expenditure and Salary Payable Liability. Salary paid in an advance journal entry:.What’s the percentage of Provident Fund?.Salary journal entry example: Advertisements.Journal Entries relating to the Salary:. ![]()
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