Dear sir please tell me the commission Receivable journal entry pass with example
12 Replies
hemant sharma
(141 Points)
Replied 08 March 2022
Suppose you will receive a commission of ₹10000 from mr X then you will pass this journal entry in your books of accounts
mr x a/c Dr
to commission receivable a/c
when you actually received the Commission
bank a/c dr
to mr x a/c
mr x a/c Dr
to commission receivable a/c
when you actually received the Commission
bank a/c dr
to mr x a/c
sabyasachi mukherjee
(27574 Points)
Replied 08 March 2022
How can commission receivable be a liability?
Laxmi Kudire
(140 Points)
Replied 08 March 2022
Commission recievable is not liability here ,it is income so given as credit
sabyasachi mukherjee
(27574 Points)
Replied 09 March 2022
Please note the entry:
Commission receivable is always dr. bal.
commission receivable Dr.
commission cr.
( on booking of any commision)
Bank dr.
Commission receivable
(after receipt of commision)
Commision will appear in profit loss account, commission receivable will be squared in case entire amount received.
Bank will appear in balance sheet.
Commission receivable is always dr. bal.
commission receivable Dr.
commission cr.
( on booking of any commision)
Bank dr.
Commission receivable
(after receipt of commision)
Commision will appear in profit loss account, commission receivable will be squared in case entire amount received.
Bank will appear in balance sheet.
Muralikrishnan K
(Senior Accountant)
(792 Points)
Replied 09 March 2022
how can commission receivable be credit.
sabyasachi mukherjee
(27574 Points)
Replied 09 March 2022
First it is shown as Dr. as a receivable account.
after receipt of the commission
Bank account dr.
cr. commission receivable
after receipt of the commission
Bank account dr.
cr. commission receivable
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 11 March 2022
JE
1. Commission Receivable Dr.
To Commission
2. Bank Dr.
To Commission Receivable
Muralikrishnan K
(Senior Accountant)
(792 Points)
Replied 11 March 2022
Exactly. This entry is correct.
Muralikrishnan K
(Senior Accountant)
(792 Points)
Replied 12 March 2022
I have completed my CA Inter pass. some basic accounts I can understand. Actually I am a science graduate and I studied Accounts without any tution.
Ayush
(Executive )
(6760 Points)
Replied 30 March 2023
To record commission receivable :
Debit: Commission Receivable Account
Credit: Commission Account
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