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You received a letter from IL comptroller regarding payment withheld from IL student assistance commission offset unit what does this mean?
Updated: 11/10/2022
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Earn +20 ptsQ: You received a letter from IL comptroller regarding payment withheld from IL student assistance commission offset unit what does this mean?
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What is the entry for commission received in the trading profit and loss account?
Commission received will appear on the credit
Is commission received debited or credited in the cashbook?
Commission received is credited and cash is debited
What entry would you make in the general journal for commission received?
Debit cash / bankCredit commission received
What will be the journal entry for commission received?
[Debit] Cash account xxxx [Credit] Commission received xxxx
Why bank account is debited when commission is received?
commission is an asset
Is commission received debit?
Commission received in income and cash is actually received so cash is always debit and commission is credit against cash as all incomes have credit balance as default balance.
What is received commision?
A received commission is a fee for service performed that has been received.
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.
What are examples of revenue income?
sales rent received commission received
Incentive pay received by a salesperson?
commission
The incentive pay received by a salesperson?
commission
Incentive to pay received by salesperson?
commission
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