Question

Write journal entries in the books of Kishan
1) commission received from Richa rupees 100000 encash

Answer 1

Date- 1

Particular-Cash a/c

Commission a/c

(Narration: Commission received from richa)

Lf-

Dr- 1,00,000

Cr-1,00,000

$\bold \red{Celestial} \bold{Centrix}$

Answer 2

Answer:

Cash A/c . . . Dr - 1,00,000

• To commission A/c - 1,00,000

( Being commission received in cash )

Explanation:

According to modern approach of classification, cash i.e. asset is to be debited on increase and commission i.e. revenue is to be credited on increase.