Question

(iii) Received Commission of
5000 from
Manohar. H
alf of the Commission
received deposited into the Current Ale of
business.​

Answer 1

Answer:

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Explanation:

"Journal entry for commission" received from ram will be:

Cash A/c Dr.

To "commission received"

(Being, commission received in cash and journal entry passed. As per golden rules of accounts, for nominal nature of accounts it states that, credit all expenses and for real nature of accounts it states that "debit what comes in" and "credit what goes out". Therefore, as per golden rules of accounts, above entry is passed.)