RECTIFICATION OF ERROR for commission receivable

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Working professional
34 Points Posted on 14 July 2023
Commission payable to ram for rs. 50 was wrongly recorded as commission receivable from him.
What will be the correct enty? And rectify entry?
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On 14 July 2023 at 12:00 Report
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Quick Summary
This discussion addresses an accounting error where commission payable to Ram (Rs. 50) was mistakenly recorded as commission receivable from him. The correct entry is to debit the commission account and credit Ram's account. The rectification entry will reverse the incorrect recording, ensuring accurate financial statements.

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engineer
1085 Points Posted on 28 July 2023

RS 50 NO ISSUE 

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On 28 July 2023 at 15:00
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ACCOUNTS MANAGER
2213 Points Posted on 28 July 2023

COMMISSION A/C DR.

   TO RAM

IS THE CORRECT ENTRY .

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On 28 July 2023 at 16:28

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