Example 4 Commission received in cash during 2020 was $1 000. 31 Dec 2019 2$ 31 Dec 2020 $ In arrears 100 50 In advance 200 80 Required: Prepare the commission income account for the year ended 31 December 2020.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Example 4
Commission received in cash during 2020 was $1 000.
31 Dec 2019
31 Dec 2020
24
2$
In arrears
100
50
In advance
200
80
Required:
Prepare the commission income account for the year ended 31 December 2020.
Transcribed Image Text:Example 4 Commission received in cash during 2020 was $1 000. 31 Dec 2019 31 Dec 2020 24 2$ In arrears 100 50 In advance 200 80 Required: Prepare the commission income account for the year ended 31 December 2020.
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