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Commission receivable refers to the amount of money that a business or individual is entitled to receive as compensation for facilitating a sale or transaction, typically based on a percentage of the sales value. This amount is recorded as an asset on the balance sheet until it is collected. It often arises in industries such as real estate, sales, and finance, where agents or brokers earn commissions for their services. Once received, it is recognized as income in the financial statements.
What else can I help you with?
Bill recievable and bill payable journal entries?
Entry of bill recievable is: Bill Recievable A/c dr. To debtor
What is the meaning of the word accounts recievable?
accounts in which money is owed.
An account recievable report summarizes sales by item true or false?
true
What will the journal entry of accounts recievable?
debit accounts receivablecredit sales revenue
Does collection on account receivable increase both cash and accounts recievable?
NO
Bill recievable and bill payable journal entries?
Entry of bill recievable is: Bill Recievable A/c dr. To debtor
How could an organization have a tax receivable?
An organization can have a tax recievable when it has paid a larger estimated tax the refund is put into recievable
What is average gross accounts receivable?
Average gross accounts recievable is the beginning balance for accounts recievable and the ending balance for A/R divided by two.
What is the meaning of the word accounts recievable?
accounts in which money is owed.
In quickbooks an accounts recievable report summarizes sales by items?
False
What is acceptable percentage of account recievable in small business?
About 3-5%
What will the journal entry of accounts recievable?
debit accounts receivablecredit sales revenue
An account recievable report summarizes sales by item true or false?
true
Does collection on account receivable increase both cash and accounts recievable?
NO
An accrued revenue adjustment has what effect on net income?
it will increase your income and Accounts recievable
What is assets trade?
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
What is net trading?
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
