Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 30 - No. 9)
If a company pays its employees their salaries, which accounts are affected?
Cash and Salaries Payable
Salaries Expense and Cash
Cash and Accounts Receivable
Salaries Payable and Accounts Receivable
Explanation
Paying salaries results in a debit to Salaries Expense (an expense) and a credit to Cash (an asset).
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