Those expenses have to pay pay
Debit outstanding expensesCredit expenses payable
debit wages expensescredit wages payable
outstanding salaries a/c....................dr to outstanding expenses
Indicates how the firm handles obligations of its suppliers. · Formula Ending Accounts Payable Purchases / 365
outstanding rent account dabit to Mr ashwin
salary account debtor to salary outstanding account
expected, scheduled, fitting, deserved, payable, outstanding, owing, unpaid
[Debit] Accrued salary payable [Credit] Cash / bank
debit office suppliescredit accounts payable
debit rent expensecredit rent payable
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
outstanding, usually in the sense of outstanding mistake or outstanding lie