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Salary due to office clerks 100000. what is the journal?
Most Upvoted Answer
Salary due to office clerks 100000. what is the journal?
Journal Entry for Salary Due to Office Clerks
Explanation
When an organization has office clerks, it is their responsibility to pay them their salaries at the end of each month. Salary is an expense for the organization, and as per the double-entry system of accounting, every transaction has two aspects - debit and credit.
Debit
The organization will debit the salary expenses account for the amount due to office clerks.
Credit
The organization will credit the liability account for salaries payable for the same amount as per the due date.
Example
Let's say an organization has office clerks to whom they owe $100,000 in salary. The journal entry for this transaction will be:
- Debit - Salary Expenses Account - $100,000
- Credit - Salaries Payable Account - $100,000
By making this journal entry, the organization is recognizing the salary expenses and the liability for salaries payable.
Community Answer
Salary due to office clerks 100000. what is the journal?
Salary a/c dr. 100000
To outstanding salary a/c 100000
To outstanding salary a/c 100000
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Salary due to office clerks 100000. what is the journal? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Salary due to office clerks 100000. what is the journal? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Salary due to office clerks 100000. what is the journal?.
Salary due to office clerks 100000. what is the journal? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Salary due to office clerks 100000. what is the journal? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Salary due to office clerks 100000. what is the journal?.
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