On april foreman electric installs wiring in a new home for 2300 on account however on april 27 foreman's electronical work does not pass inspection and foreman grannts the customer an allowance of 480 because of the problem. The customer makes full payment of the balance owned on april 30 Calculate net revenue associated with these transactions

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Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.