02-07-2009, 05:46 PM
Expense is being recorded on cash basis the whole year except for the month of December?
Anyways if you have passed the following entry at close of December i.e.
Salaries A/C 1,000 Dr.
Salaries Payable A/C 1,000 Cr.
This would be reversed subsequently in January by
Salaries Payable A/C 1,000 Dr.
Cash / Bank A/C 1,000 Cr.
Anyways if you have passed the following entry at close of December i.e.
Salaries A/C 1,000 Dr.
Salaries Payable A/C 1,000 Cr.
This would be reversed subsequently in January by
Salaries Payable A/C 1,000 Dr.
Cash / Bank A/C 1,000 Cr.