I given one employee loan 50000 and his salary is 15000 . I will deduction loan amount 10000 per month. How do entry cost center wise
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For loan a/c entry
Replies (2)
1 st. entry will be
Salary. A/c Dr 15000
To salary payable to employee A/c Cr 15000
( being salary payable )
when. salary paid after deduction of loan entry will be
Salary payable to employee A/c Dr 15000
To loan A/c Cr. 10000
To Bank. A/ c Cr. 5000
( being salary. paid )
Salary. A/c Dr 15000
To salary payable to employee A/c Cr 15000
( being salary payable )
when. salary paid after deduction of loan entry will be
Salary payable to employee A/c Dr 15000
To loan A/c Cr. 10000
To Bank. A/ c Cr. 5000
( being salary. paid )
Salary payable to employee A/c Dr 15000
To loan A/c Cr. 10000
To Bank. A/ c Cr. 5000
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