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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.
What is will be the journal entry of recognition of comission payable?
Debit commission expenseCredit commission payable
What is the journal entry for commission to be paid?
[Debit] Commission expense xxxx [Credit] Commission payable xxxx
Which of the following transactions results in an increase in expenses?
wage payable
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.
Where does sales commission payable go on the multiple step income statement?
Sales commission payable is not part of income statement and it is shown in balance sheet as current liability in liability side of balance sheet.
Is sales commission a current liability or an expense?
If sales commission is payable in future time then it is current liability but if it is paid already then it is expense.
What is a Used car salesman commission standard?
20-25% of payable gross profit
Where does sales commission payable go on the multiple-step income statement?
I didn't even get an answer
How do you enter the journal entries of short term notes transactions?
debit cash / bankcredit notes payable
What commission would be payable on a house with a sale price of 105 000?
The commission is not a fixed amount: it is negotiated with the estate agent (UK) or realtor (US).
Which system supports the payment of commercial vendor and provides support for standard electronic data interchange transactions?
Integrated Accounts Payable System (IAPS)
