Journal Entry for Commission Received

Commission received is the amount that an individual receives in exchange for the services offered by him/her. It is a kind of monetary remuneration that is said to be the asset of the individual/company. Commission received journal entry is passed in order to show the amount that an individual/a company received in exchange for their services as commission.

Commission Received: Journal Entry

Journal Entry:

Example 1:

Commission amounting to ₹5,000 received in cash. Record the necessary journal entry.

Solution:

Example 2:

On 21 August 2023, a Commission amounting to ₹8,100 was received through cheque. Record the necessary journal entry.

Solution: