journalise the following transaction:

Received commission Rs.5000 half of which is in advance.

Journal

Date

Particulars

L.F

Debit

Amount

Rs

Credit

Amount

Rs

 

Cash A/c

Dr.

 

5,000

 

 

To Commission A/c

 

 

2,500

 

To Commission Received in Advance A/c

 

 

2,500

 

(Commission received, half of which received in advance)

 

 

 

  • 58

At the time of Receipt:

Cash/Bank A/c    ...Dr.    5,000

To Commission A/c                    5,000

 

At the end of current accounting period:

Commission A/c    ...Dr.                          5,000

To Profit & Loss A/c                                              2,500

To Commission Received in Advance A/c       2,500

  • -14
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