[Debit] Commission expense xxxx
[Credit] Commission payable xxxx
Debit Commission expense Credit Cash / bank
debit commission expensecredit cash / bank
[Debit] Commission paid xxxx [Credit] cash / bank xxxx
The journal entry for receiving commission is as follows: Cash/Bank [Debit] XXXX Commission[Credit] XXXX
debit commission receivablecredit commission income
If Advance Commission paid: [Debit] Prepaid Commission xxxx [Credit] Cash/Bank xxxx If advance commission received: [Debit] Cash/Bank xxxx [Credit]Unearned Commission xxxx
Debit commission expenseCredit commission payable
[Debit] Tax paid [Credit] Cash / bank
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
Debit cash / bankCredit commission received
[Debit] Cash account xxxx [Credit] Commission received xxxx
Commission Paid A/c Dr To Cash/Bank A/c Cr