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Journal entryAdvancedVariant — group VG.IFRS15.000706Published

Question · Principal versus agent considerations

The website Ludiboutique sells games online that are shipped directly by publishers, which set their price and handle delivery and after-sales service. Ludiboutique earns a commission of 8 % of the selling price and has concluded, according to the case data, that it acts as an agent for these games. In June 20X2, it collects 45,000 from buyers for games delivered during the month. Record the summary entry for June 20X2.

Amount collected from buyers
45,000
Commission rate
8 %
Your answer
  1. Line 1

    Account Cash

  2. Line 2

    Account Payable to the publishers

  3. Line 3

    Account Revenue (commission)

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