plz clarify my doubt: - if x is consignee and doing sales on behalf of the consignor, and all parities( sales- debtors) were credited the amount directly in to the x's bank a/c and x is send the same to his consignor, in the meanb while consignor told to consignee that, u (x) deduct your commission part and send remaining balance to me (consignor). and x withdraw his commission from his bank a/c and send the remaining balance to consignor. in this wat is right entry for commission in x's a/c.
my doubt is: the exact amiount of commission is not credited in bank a/c, bcaz all sales amounts were deposited, but x have to pass entry for his exact part of commission and with draw the same in his bank a/c
wat is the right entry
plzzzzzzz very urgent
CAclubindia
