Question

Received commission 25000 half of which is in advance

Answer 1

Cash A/c dr. 2500
Commission A/c dr. 2500
To commission rec. in adv. a/c 5,000
( Being Half commission received in advance in the form of cash )

Answer 2

Question:

Received commission 25000 half of which is in advance. Show the journal entry.

Answer:

Explanation:

                     In the books of the journal entry

particulars                                                   amount        amount

cash A/C Dr.                                                 25000

    To, Commission received A/C                                    25000

[ being commission received Rs. 25000 ]

commission received A/C Dr.                      12500

   To, commission received in advance A/C                   12500

[ being commission received in advance ]

workings:

Half of the commission received in advance = ( 25000 / 2 ) = 12500