Question

journal entry for recieved as commission

Answer 1

When commission is received in cash by the company then following journal entry will be passed –

                                    Cash or bank account Dr

                                        To commission received account

Answer 2

Journal entry

Explanation:

Given:

Commission received

                               Books of (--limited)

                                    Journal entry

Date     Account Title and Explanation      Debit     Credit

               Cash / Bank                A/c Dr.          xxx

         To Commission received A/c                             xxx

             (Being commission received in cash or bank)

Note: Commission received is an income and all income will be credit according to the journal concept.

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