Question

Commission received by cheque journal entry

Answer 1

Answer:

Explanation:

Bank A/ C dr

To commission

Answer 2

Answer:

Bank A/c    Dr

   To Commission received A/c

Explanation:

Here commission is being received which is an income, thus amount is credited under the same account. The rule says Cr all income and gains.

Since it is being received by cheque the amount is Debited to Bank A/c, because the rule says Dr what comes in and Dr the receiver.