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  • 500 Sweaters X 1,000 Price of Sweaters 500,000 500,000.00 Alt Payable For Consigned Goods 0.1 50,000.00 Commission Cash 450,000 Commission 50,000 Accounts Payable 500,000

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    Earl Bandala
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    The document shows the computation of commission earned on the sale of 500 sweaters worth ₱1,000 each, totaling ₱500,000. With a commission rate of 10%, the commission earned is ₱50,000. The journal entry records the cash received of ₱450,000, commission expense of ₱50,000, and reduction of the accounts payable of ₱500,000.

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    The document shows the computation of commission earned on the sale of 500 sweaters worth ₱1,000 each, totaling ₱500,000. With a commission rate of 10%, the commission earned is ₱50,000. The journal entry records the cash received of ₱450,000, commission expense of ₱50,000, and reduction of the accounts payable of ₱500,000.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    10 views1 page

    500 Sweaters X 1,000 Price of Sweaters 500,000 500,000.00 Alt Payable For Consigned Goods 0.1 50,000.00 Commission Cash 450,000 Commission 50,000 Accounts Payable 500,000

    Uploaded by

    Earl Bandala
    The document shows the computation of commission earned on the sale of 500 sweaters worth ₱1,000 each, totaling ₱500,000. With a commission rate of 10%, the commission earned is ₱50,000. The journal entry records the cash received of ₱450,000, commission expense of ₱50,000, and reduction of the accounts payable of ₱500,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    A.

    Computation for commission


    500 sweaters
    x 1,000 price of sweaters 500,000
    ₱500,000.00 Alt payable for consigned goods 0.1
    ₱50,000.00 commission
    B. Journal Entry
    Cash 450,000
    Commission 50,000
    Accounts Payable 500,000

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