Exercise 2:

The total salaries of Al Khor Independent School for October 2018 are as follows:

1,000,000 basic salary, 300,000 riyals allowances, 350,000 rewards, 200,000 riyals allowances, 150,000 riyals in incentives.

The deductions for the same month were QR 300,000 and the details were as follows:

QR 50,000 discounts for commercial companies, QR 130,000 deductions for bank loans, QR 100,000 advances loans taken from the school previously, QR 20,000 deducted from salaries for absence penalties.

Salaries were paid at the end of the month and deductions were made to the beneficiaries.

Required: Prepare daily entries to prove the above processes.