PAYE - Tax Rebate Journal Entry

Hi Guys,

 

I was worndering would any one be kind enough to tell me what is the Journal entry for tax rebate:

Payslip details

e.gG Gross Wages £421.53

Tax Refund £40.40

Net Pay £461.93

 

Would it be????

DR Wages £421.53

CR NIC/PAYE £40.40

CR Net £461.93

 

Help appreciated

Thanks

 

 

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Peter Kilvington |