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View Full Version : How to post wage shortage on T-account ledger?


wmills
Apr 23, 2014, 09:28 AM
Which accounts should be debited or credit if an employer cannot be paid until next month (incidentally in January) due to cash shortage in the business?

pready
Apr 23, 2014, 10:29 AM
You would Debit the appropriate Expense account and Credit the appropriate Liability account.