14. Sold a house and collected Php45,000 commission. a. Debit Cash, Credit commission income b. Debit Cash, Credit J. Ilagan, capital c. Debit Commission Expense, Credit Cash d. none of the above
14. Sold a house and collected Php45,000 commission. a. Debit Cash, Credit commission income b. Debit Cash, Credit J. Ilagan, capital c. Debit Commission Expense, Credit Cash d. none of the above
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 2PB: To demonstrate the difference between cash account activity and accrual basis profits (net income),...
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14. Sold a house and collected Php45,000 commission.
a. Debit Cash, Credit commission income
b. Debit Cash, Credit J. Ilagan, capital
c. Debit Commission Expense, Credit Cash
d. none of the above
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