Question

Write the journal entry for commission accrued but not received.

Answer 1

Answer:

accrued commission a/c ..dr

To commission a/c

Explanation:

accrued commission means commission generated but not received

so, it's a kind of asset that has not been received

so it is debited because it's a asset and increase in assets is debited

while, it's a commission which means that it's a kind of income

and increase in income is credited.

the term accrued means due

Answer 2

Answer:

It is treated as an asset for the business. Journal entry for accrued income recognizes the accounting rule of “Debit the increase in assets” (modern rules of accounting). Examples of accrued income – Interest on investment earned but not received, rent earned but not collected, commission due to being received, etc.

Explanation:

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