My question is "will an expence a/c credit or income a/c debit in an entry at any circumstances...
Situation by which I am asking this is..
1.I have withdran 2000 rs from bank against salary of a staff against a voucher.
but his salary was 1900/- and I paid 1900 only.My boss told me to deposit back that 100/- rs.
in this case I passed an entry at 1st: Salary A/c ........dr
Bank A/c..........cr
NOW I WANT TO KNOW WHETHER THIS IS CORRECT OR WHAT ELSE IS THE ACCOUNTING METHOD TO MAKE A ENTRY FOR DEPOSITING BACK 100/-rs
I made an entry Bank A/c...................................DR
Salary A/c .................................CR
Thanks In Advance
Renjith S Nair