commissions paid account

Show Summary Details

Quick Reference

An account used to record commissions paid by an organization to agents and others. In a double-entry system, the commissions paid account is debited and the bank account (or the creditors’ account until it is paid) is credited. This account may be combined with the commissions received account.

Subjects: Accounting.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.