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Nadya [2.5K]
2 years ago
5

Jill needs to pay the web developer who created a new website for her brokerage, but her checking account is low, so she floats

herself a loan from earnest money kept in the brokerage’s escrow account to pay the developer. Which answer correctly identifies the violation(s) Jill has committed?
Business
1 answer:
Radda [10]2 years ago
8 0

The term that has to do with the offense that Jill has committed by floating herself this loan is Commingling and conversion.

<h3>What is Commingling and conversion?</h3>

Commingling has to do with the way that cash is deposited into an account on behalf of a given client.

Conversion has to do with the use of the cash for purposes that are outside the reasons why it was deposited.

Read more on cash deposits here: brainly.com/question/1752098

#SPJ1

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<u>Solution and Explanation:</u>

The following formulas will be used in order to calculate the accounts receivable turnover ratio and in order to find out the number of days collect.

Accounts receivable turnover ratio = Net sales divided by Average net Accounts receivable

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<u>Days to collect</u> = 365 divided by Accounts receivable turnover ratio

= $365  divided by 7.77

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