Accounting 0452 · IGCSE · Other payables and other receivables

Other payables and other receivables — practice question

On 1 April 2021, commission receivable of $210$ had not yet been received. Commission received in the year ending 31 March 2022 was $4850$. Which journal entry ought to have been recorded at the close of the financial year on 31 March 2022?

  • ADebit commission receivable $4640$, credit income statement $4640$
  • BDebit commission receivable $5060$, credit income statement $5060$
  • CDebit income statement $4640$, credit commission receivable $4640$
  • DDebit income statement $5060$, credit commission receivable $5060$

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