debit salary expense
credit cash
debit salary payableCredit cash / bank
debit salary expensecredit cash
advance salary a/c dr to cash
The journal entry for salary paid to an employee typically involves debiting the Salary Expense account and crediting the Cash or Bank account. For example, if an employee is paid $3,000, the entry would be: Debit: Salary Expense $3,000 Credit: Cash/Bank $3,000 This reflects the expense incurred for employee compensation and the reduction of cash or bank balance.
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
debit salary expensecredit cash
[Debit] Salary Expense xxxx [Credit] Salary payable xxxx
debit salary payableCredit cash / bank
Salary payable A/c Dr 5000 To Cash Cr 5000
debit salary expensecredit cash
debit salary expensecredit cash
advance salary a/c dr to cash
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
debit salary expensecredit cash
debit salary expensecredit cash
End of March: DR Salary Expense CR Salary Payable Paid day on April DR Salary payable CR Cash
debit salary expensecredit cash