Accounting 0452 · IGCSE · Other payables and other receivables

Other payables and other receivables — practice question

On 1 April 2021, commission receivable of $210 remained unpaid. Commission received in the year ended 31 March 2022 totalled $4850. What journal entry ought to have been recorded at the end 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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