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commision of rs-150 paid but charged to interest
account,journal entry
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Answer Posted / iasam
Wrong entry :-
Interest A/c----------- Dr.150
To Cash/Bank A/c 150
Should be Entry :-
Commission A/c-----------Dr. 150
To Cash/Bank A/c 150
Right Entry :-
Commission A/c ------Dr 150
To Interest A/c 150
| Is This Answer Correct ? | 14 Yes | 1 No |
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The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.
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