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The accounting for salaries paid to employees involves debiting salaries expense and crediting salaries payable when employees perform work and are owed money. Salaries expense reduces net income on the income statement, while salaries payable increases liability on the balance sheet. Payroll taxes, union dues, and unemployment taxes must also be accounted for, along with federal income tax withholding. When the employer pays the employees, salaries payable is debited to reduce the liability and cash is credited.
