0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Is commission receivable a credit or debit?
commission receivable is credited
What is is the difference between Commission Payable and Commission Receivable?
Commission Payable is Commission that you pay, Commission Receivable is Commission someone is paying you.
Is commission receivable a current asset?
Yes
What is the journel entry for commission receivable?
current asset
Is Commission a revenue or an expense?
if Commission is received then it is revenue but if commission is paid then it is expense, if commission is receivable then it is asset while if it is payable then it is liability.
Is commission receivable a credit or debit?
commission receivable is credited
What is is the difference between Commission Payable and Commission Receivable?
Commission Payable is Commission that you pay, Commission Receivable is Commission someone is paying you.
Is commission receivable a current asset?
Yes
What is the journel entry for commission receivable?
current asset
Is Commission a revenue or an expense?
if Commission is received then it is revenue but if commission is paid then it is expense, if commission is receivable then it is asset while if it is payable then it is liability.
Journal entry of commicsion receivable?
Post to Commissions Earned, an income account and Commissions Receivable, a current asset account.
How do you treat accrued income?
income receivable
Why is accounts receivable an assit?
Because accounts receivable is that amount which is receivable from customer due to sales of goods on credit.
How are notes receivable due in 5 years listed on the balance sheet?
nOtes receivable due in five years is listed on the balance sheet under what csption
Why there is an increase in receivable in a balance sheet?
Due to increased credit sales there is a chance of increase of accounts receivable in balance sheet.
Does commission have a balance sheet or income statement account?
If commission is already received or paid then it is income statement item, but if it is still receivable or payable then it is balance sheet item, simple commission is a income statement item
Is cash on demand an accounts receivable payment term not standard in business?
No, Accounts receivable are amounts due from customers for credit sales
