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    raiya's Avatar
    raiya Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 22, 2009, 09:30 AM
    Accounting Quest.
    Hi please help me on this transaction, because I answer myself as follow: Dr. Salaries Expenses and Cr. Account Payable. But I am not sure with my answer.

    Sells a house and lot for M.E. Petty; commissions due from Petty, $10,800 (not paid by Petty at this time).
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Sep 22, 2009, 06:39 PM

    The information is confusing. WHO is the entry supposed to be for? The person who is going to pay the commission or the person is who going to get the commission?
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
    Senior Member
    		  
    #3

    Sep 22, 2009, 10:05 PM
    Quote Originally Posted by raiya View Post
    Hi please help me on this transaction, because I answer myself as follow: Dr. Salaries Expenses and Cr. Account Payable. But I am not sure with my answer.

    Sells a house and lot for M.E. Petty; commissions due from Petty, $10,800 (not paid by Petty at this time).
    Salaries
    Debit Salaries Expense
    Credit Salaries Payable

    Commission

    In this case the agent has earned a commission by selling the property on behalf Petty, hence:

    Debit Accounts receivable
    Credit Commission revenue
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