Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 1 - No. 31)
What is the meaning of a "sale commission accrued"?
Sale commission is being paid for the service.
Sales commission is being recorded.
Sale commission has been accrued and paid.
Sales commission has been earned but not yet paid.
Explanation
Sales commission has been earned but not yet paid, hence it is recorded as an accrued liability.
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