Commission Received By Cheques / Checks Journal Entry
Commission received by cheque / check is recorded by debited Cash Account and credited to Commission Received Account as shown below: Cash a/c XXX Commission Received a/c XXX (Commission Received For Cash) If the cheque is deposited into the bank on the same date, then the bank account is used instead of cash account in the accounting journal entry as shown below: Bank a/c XXX ...