25 June 2016
we are a Pepsi distubutor. we have purchase 100 no. of Pepsi bottle from Pepsi company as 1000/ (100*10). BUT WE HAVE TO Receivable salary exp 200/ from Pepsi company, but pros
i company invoice is 1000-200(Discount)=800.we have to account salary expenses.what is entry
Dr.SAL Recoverable from PEPSI(Other current asset) Cr.Bank/cash (Salary paid to guy) or Cr.Salaries (where that salary already debited as expense in books)