Need help accounting question

Question

can you guy help me with this two i can't find it anywhere. can you tell me Account Classification, if it Debit or Credit, and where it appear in (balance sheet or income statement). thank you

Commissions Earned

Rent Earned

Answer 1

on the credit side.

Both are Income statement accounts.

These are equivalent to Sales if your business is involve in selling.

Answer 2

Commissions earned would be income statement. If you have received the payment the entry would be:

Debit cash

Credit commissions earned

If you haven't received payment the entry would be:

Debit commissions receivable

Credit commissions earned

As for rent earned, same thing just substitute for "rent" for "commissions"