Question
Commission received in advance is of the nature
ofSolution
Commission received in advance is an example of a representative personal account. A representative personal account is a type of personal account used to record transactions with individuals or organizations on behalf of others. In this case, the commission received in advance represents an obligation to provide services to a specific client or customer in the future. As such, it is a liability owed to that specific client or customer, and is therefore recorded as a representative personal account.
If HEAR is written as KJHA, then MILK can written as
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Question:
Shoul...
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