The brokerage ledger is used for the purpose of recording all the transactions which yield a brokerage or a commission. (See Chapter XXX (Agents And Brokers, And Their Accounts. Section 306. Accounts For Office Buildings And Apartment Houses).) The record is a simple one and may be of the style shown in Form 13.

The profits arising from commissions on the sale of real estate are unusually simple. In the great majority of cases they are paid in cash or its equivalent as soon as a sale is completed, and are entered directly in the cash book or journal, as the case may be. In the matter of commissions on time sales, especially where the payments are small, it is a common custom for the owner to make some particular arrangement with the agent, such as agreeing to pay him, say, 50% of all collections until the commission is fully paid.

Form 13. Brokerage (Commissions Earned) Ledger.