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(Querist)
01 April 2018 Ramesh an employee of salary rs 10000 per month, withdrew goods worth rs 1500 for personal use and got salary of rs 9000 in cash in the month of march, 2018.The excess payment of Rs 500 will be debited to?.


Please give explanation and answer.
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RAJA P M

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RAJA P M (Expert)
01 April 2018 Debit under discount Ledger...
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Jitendra Joshi

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Jitendra Joshi (Expert)
02 April 2018 Entry for Rs 500 should be like: Salary account- Dr/ To Sales A/c(Inventory A/c)
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Shaik Fazal

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Shaik Fazal (Querist)
04 April 2018 The answer is SALARY PAID IN ADVANCE account. Please explain why is SALARY PAID IN ADVANCE a correct answer sir.

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