commision recieved is an example of
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To commission received account
In the balance sheet, this accrued commission will be shown on the asset side of the balance sheet and commission received will be shown as income in profit and loss account.
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If the business firm is purely doing the marketing work for other firms or rendering their services on commission basis only, in that case the commission received will be a direct income, otherwise, the commission received will be an indirect income. For Example M/s Supple Rubbers is having good links with suppliers of Refractories Items.
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