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Is commission receivable a credit or debit?
commission receivable is credited
Does listing commission income have a debit or credit balance?
credit
Is receiving cash as a commission for acting as rental agenting an apartment credit or debit?
A credit, if you were taking money out of an account to pay a commission that would be a debit. So we have learned a credit is-money coming in and a debit is-money going out
What is the journal entry for advanced commission?
If Advance Commission paid: [Debit] Prepaid Commission xxxx [Credit] Cash/Bank xxxx If advance commission received: [Debit] Cash/Bank xxxx [Credit]Unearned Commission xxxx
Where does commission received go to in the trial balance?
Debit column
Is commission receivable a credit or debit?
commission receivable is credited
Does listing commission income have a debit or credit balance?
credit
Is receiving cash as a commission for acting as rental agenting an apartment credit or debit?
A credit, if you were taking money out of an account to pay a commission that would be a debit. So we have learned a credit is-money coming in and a debit is-money going out
What is the journal entry for advanced commission?
If Advance Commission paid: [Debit] Prepaid Commission xxxx [Credit] Cash/Bank xxxx If advance commission received: [Debit] Cash/Bank xxxx [Credit]Unearned Commission xxxx
Where does commission received go to in the trial balance?
Debit column
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 the journal entry for commission to be paid?
[Debit] Commission expense xxxx [Credit] Commission payable xxxx
What is the journal entry for commission paid?
Debit Commission expense Credit Cash / bank
What will be the journal entry for commission received?
[Debit] Cash account xxxx [Credit] Commission received xxxx
Is sales and salaries commission debit or credit?
Those commission costs would show as debits on the profit and loss.
To make an adjusting entry for the accrued commission is what?
Adjusting entry as follows: [Debit] Cash / bank [Credit] Accrued commission
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
