Question

appointed a commision agent and paid commision journal​

Answer 1

Answer:

Agent's commission ac

To bank ac

Answer 2

Answer:

Commission are indirect expenses and will always be Debited to Profit & Loss A/c.

Commission can be paid either in Cash or via Bank.

Cash is Real Account item therefore when we make payment in cash it is Credited and when we receive cash it is debited (Golden Rule : Debit what comes in, Credit what goes out)

Bank is Personal Account item, therefore when we make payment via Bank its is Credited and receive in Bank it is Debited (Golden Rule:- Debit the Receiver, Credit the Giver).

Therefore journal entry will be :-

Commission A/c………………Dr

To Cash/Bank

Explanation:

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