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Final answer:
Explanation of key characteristics of sales agency, inventory accounting, and commission recording in a sales agency setting.
Explanation:
Key distinguishing characteristic of a sales agency compared to a sales branch:
- The agency sells goods on consignment for a principal.
When a sales agency sells consigned goods, the principal's inventory account is:
- Debited when the goods are sold.
Which account a sales agency would use to record the value of consigned goods:
- Inventory
How a sales agency typically records the commission earned:
- Debit Commission Revenue, Credit Accounts Payable
- Learn more about Sales agency operations here:
- https://brainly.com/question/38073657
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