Question

appointed a commission agent and paid him commission 600 journal​

Answer 1

Answer:

Under the cash basis of accounting, you should record a commission when it is paid, so there is a credit to the cash account and a debit to the commission expense account.

Answer 2

Answer

Journal entry of received for commission:

Cash/ Bank A/c ……. Dr

To Commission A/c

[Being received coomission]

Cash A/c Debit because the cash is (Real Account), and comes in, any type of assets comes in is debit based on Golden rules.

Commission A/c Credit because the Commission is (Nominal Account) and one type of Income and Income is also Credit. Based on the Debit and Credit or Golden Rules.

Rules:

Cash - Real Account - Comes in - Dr

Commission - Nominal Account - Income - Cr

Golden Rules:

Personal Account:

Debit the Receiver, Credit the Giver

Real Account:

What cames in Debit and what Goes out Credit

Nominal Account:

Expenses & Loss Debit, and Income, Profit Credit

I hope this answer helps you.