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slinky4
Aug 25, 2009, 02:06 PM
How do I journalize accrued salary, a general expense $1,150

I think I would Debit general expenses, and credit salaires payable. Is this correct?

morgaine300
Aug 25, 2009, 07:02 PM
"General expense" is a category of accounts, not a specific account. You want to debit Salaries Expense. Just like the Salaries Payable is the specific account name. Even though it's a current liability, you don't credit "current liability" cause that's a category.