Commission Receivable Journal Entry Commission Receivable Commission Receivables are amounts owed to Sellers or their Affiliates in relation to Acquired Contracts which are calculated according to Generally Accepted Accounting Principles. …
Machinery Purchased Journal Entry Machinery Purchased The purchase of machinery is essential to the operation of the business. The ability to purchase the necessary equipment and tools to support the …
Withdrew Cash for Office Use Journal Entry Key Takeaways Cash withdrawals for office use should only be made for legitimate business purposes and not for personal reasons. Having systems in …
Outstanding Income Journal Entry In accounting, an outstanding income journal entry is a bookkeeping entry used to record and report income that has been earned but not yet received. This …
Staff Welfare Expenses Journal Entry Staff Welfare Expenses are typically used to benefit employees of an entity. These expenses can be in a variety of forms, such as gifts, refreshments, …
Advertisement Journal Entry Advertising has become a pervasive part of modern society as it is used to promote commodities, services, and ideas. It is spread through various media, such as …
Commission Received Journal Entry Commission Received Commission received is a percentage of total sales that is recorded as indirect income on the profit and loss account. It is also paid …
Warranty Expense Journal Entry Warranty Expense Warranty expenses are incurred by a business during the warranty period and are recorded in the accounting year when sales related to them are …
Traveling Expenses Journal Entry Traveling Expenses The reimbursement of travel expenses is a common component of employee compensation. When an employee is required to travel for work-related activities, the company …
Paid Freight Journal Entry Key Takeaways Paid freight is an accounting term denoting an expense incurred for the transportation of goods. Accurate recording of paid freight charges is important for …