Mary26991 Mary26991

03-06-2024
Business

Answered

Refer to KVM company supplies goods to KOS company worth Php 7,200. KOS sells goods on behalf of the joint venture and realizes Php 5,000, KOS is entitled to a commission of 6% on sales. , what should be the credit entry of KOS for its commission?
a. Commission Account
b. Cash
c. Profit and Loss Account
d. Joint Venture Account

Answer :

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