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The accounting for salaries paid to employees involves journal entries for salaries expense and salaries payable. When employees work and are owed money, the employer debits salaries expense and credits salaries payable. This reduces net income on the income statement and increases current liabilities on the balance sheet. Payroll taxes, union dues, and other deductions must also be considered. When the employer pays the employees, they debit salaries payable and credit cash. This process is more complex due to additional factors such as payroll taxes and deductions.
