Answer:
$1,312.50
Explanation:
Calculation for How much was the referring agent paid
First step is to find the buyer agent amount by using the buyer's agent percentage to multiply the buyer purchased amount of the home
Using this formula
Buyer agent amount =Buyer's agent percentage× Home purchased amount
Let plug in the formula
Buyer agent amount=1.5%×$350,000
Buyer agent amount=$5,250
The last step is to find How much was the referring agent paid
Using this formula
Amount referring agent paid =Buyer agent amount× Percentage of buyer side commission
Let plug in the formula
Amount referring agent paid=$5,250×25%
Amount referring agent paid=$1,312.50
Therefore the amount that the referring agent paid will be $1,312.50
A simple discount note results in i<span>nterest that are deducted in advance, this can just be simply called a discount. </span><span> It is usually being confused with markdown. </span><span>Discount is a deduction in the price of a product base on the purchase of the customer while markdown is a reduction of price based on inability to be sold. </span>
Answer:
corporate philanthropy.
Explanation:
Corporate philanthropy refers to an act done by a corporation or business organization with a motive to promote the welfare of a society by charitable donations of funds
Since in the question it is mentioned that the Jessica already aside the amount of $10,000 for the nonprofit organization and already it meets the requirement of government to contribute 4% of the company revenue for the social benefits
So this given situation represents the corporate philanthropy.
Answer:
A Merchandising Company
Journal Entries:
Nov. 5:
Debit Inventory $6,000
Credit Accounts Payable $6,000
To record the purchase of 600 units of a product at a cost of $10 per unit, terms, 2/10, n/60.
Nov. 7:
Debit Accounts Payable $250
Credit Inventory $250
To record the return of 25 defective units.
Nov. 15:
Debit Accounts Payable $5,750
Credit Cash Discount $115
Credit Cash Account $5,635
To record payment on account.
Explanation:
The journal entries show the accounts affected by each transaction. Two or more accounts are usually affected. One account receives value and is debited and the other gives value, and it is credited.
The trade terms 2/10, n/60 implies that a cash discount of 2% on the outstanding balance exists for early settlement on account within 10 days and the credit period should not exceed 60 days or two months.
