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
2 Replies
prasad Nilugal
(3924 Points)
Replied 26 December 2018
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 )
Aman Kumar
(Accounts Executive)
(744 Points)
Replied 26 December 2018
Salary payable to employee A/c Dr 15000
To loan A/c Cr. 10000
To Bank. A/ c Cr. 5000
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