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What is the journal entry for advanced commission?

Anonymous

∙ 11y ago

Updated: 9/20/2023

If Advance Commission paid:

[Debit] Prepaid Commission xxxx

[Credit] Cash/Bank xxxx

If advance commission received:

[Debit] Cash/Bank xxxx

[Credit]Unearned Commission xxxx

Wiki User

∙ 11y ago

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What will be the journal entry if you received net commission after deducting prev month gross commission?

The journal entry for receiving commission is as follows: Cash/Bank [Debit] XXXX Commission[Credit] XXXX

What is the journal entry for commission paid?

Debit Commission expense Credit Cash / bank

What is journal entry for commission paid?

debit commission expensecredit cash / bank

What will be the journal entry for commission received?

[Debit] Cash account xxxx [Credit] Commission received xxxx

Commission received what is journal entry?

Journal entry:[Dr.]Bank account xxxx[Dr.]Cash account xxxxx[Cr.]Commission Received xxxxCommission received is credited because it is our income and incomes are credited.

Related Questions

What will be the journal entry if you received net commission after deducting prev month gross commission?

The journal entry for receiving commission is as follows: Cash/Bank [Debit] XXXX Commission[Credit] XXXX

What is the journal entry to record an accrued commission?

debit commission receivablecredit commission income

What is will be the journal entry of recognition of comission payable?

Debit commission expenseCredit commission payable

What is the journal entry for commission paid?

Debit Commission expense Credit Cash / bank

What is the journal entry for commission to be paid?

[Debit] Commission expense xxxx [Credit] Commission payable xxxx

What is journal entry for commission paid?

debit commission expensecredit cash / bank

What will be the journal entry for commission received?

[Debit] Cash account xxxx [Credit] Commission received xxxx

What entry would you make in the general journal for commission received?

Debit cash / bankCredit commission received

Commission received what is journal entry?

Journal entry:[Dr.]Bank account xxxx[Dr.]Cash account xxxxx[Cr.]Commission Received xxxxCommission received is credited because it is our income and incomes are credited.

What is the journal entry for commissions paid to a salesman?

[Debit] Commission paid xxxx [Credit] cash / bank xxxx

Journal entry of commicsion receivable?

Post to Commissions Earned, an income account and Commissions Receivable, a current asset account.

What is a compound journal entry?

Compound journal entry is that entry which records more than one business transaction in one single journal entry.

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