for understanding the journal entries why don't you use the golden rule of accounting, i.e.
Personal A/c : Debit the Receiver & Credit the Giver
Real A/c : Debit What comes in & Credit What goes out
Nominal A/c : Debit Expenses & losses & Credit Income & Gains
I hope you must be knowing the types of accounts..
i would like to know the journal entry for payment of leave encashment and also p.f arrears are paid on behalf of employees now employer are recovering over a period of 18 months. how to treat and also journal entry for it.
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