give journal entry for the below' 1.brokerage due to us Rs.500
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The Journal will include the particulars. LF, Debit amount and credit amount. For the Brokerage Account, it will be:
Brokerage A/c Dr
To Outstanding Brokerage A/c Dr
(Brokerage due to be paid)
The brokerage can be of two prospective – Buyer perspective in which the buyer’s book is considered and Seller perspective in which the seller book is filed.
Brokerage A/c Dr
To Outstanding Brokerage A/c Dr
(Brokerage due to be paid)
The brokerage can be of two prospective – Buyer perspective in which the buyer’s book is considered and Seller perspective in which the seller book is filed.
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