Question

commission received account in brief
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Answer 1

Answer:

Explanation:

When a business firm receives any amount from any person in respect of any services rendered to help them for increasing the sale or helping in purchase of goods or relating to other business transaction, then this receipt will be treated as commission received.

In a double-entry system, the commissions received account will be credited and the bank account (or the debtors' account until it is received) is debited. This account may be combined with the commissions paid account.