Accountancy, asked by Isthifa3614, 10 months ago

Commission paid in advance

Answers

Answered by GoodLuck8491
0

Answer:

To Commission/Income received in advance a/c

The golden rule of accounting says that when the liability increases we should credit. Therefore we credit the commission received in advance account and debit the income account denoting that we will receive the amount it in the future.

Explanation:

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