- This topic has 5 replies, 3 voices, and was last updated 6 years, 6 months ago by .
-
Topic
-
You incur commission expense on 12/25 that won’t be actually paid until 1/25. I know the “to record” and “to pay” entries are correct, but what would the closing entry and reversing entry be? Thanks
To record:
12/25 Commission Expense xx
Commission Payable xxTo close:
12/31To reverse:
1/1To pay:
1/25 Commission Payable xx
Cash xxFAR (6/9/16) - 81
Viewing 5 replies - 1 through 5 (of 5 total)
Viewing 5 replies - 1 through 5 (of 5 total)
- The topic ‘Help me with this reversing entry’ is closed to new replies.