Accruals, Payroll and Petty cash - Financial Ops World

Examples of key journal entries

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JULY 18, 2023

When an account payable is paid, debit accounts payable and credit cash. Payroll entry. When recognizing payroll expenses , debit the wages expense and payroll tax expense accounts, and credit the cash account. Petty cash entry. Example Asset Journal Entries Cash reconciliation entry.

Petty cash

Petty cash Accounts Payable Accounts Payable Accounts Receivable

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Examples of key journal entries

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