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Neporo4naja [7]
3 years ago
5

A real estate salesperson brings a buyer to a For-Sale-By-Owner transaction. The home sells for $120,000, and the seller agrees

to pay a commission of 3%. The salesperson is on a 65% commission schedule with her broker. How much will the salesperson receive from this transaction?
Business
1 answer:
sweet [91]3 years ago
8 0

Solution:

The home sells for = $120000

The commission that is paid by the seller is 3 percent

Therefore, commission = 3% of $120000 = $3600

The sales-person is on a 65 percent commission schedule with her broker which means that the saleperson gets the 65 percent amount of the commission.

Thus, the amount which is received by the salesperson from the given transaction is = 65% of $3600 = $2340

Therefore, the salesperson receives $2340 amount from the said transaction.

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3 0
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On April 1, Moloney Musical Instruments sold merchandise on account to Fronke's Flutes for $7,000 on Invoice 1001, terms 2/10, n
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Answer:

The question is <em>"Record the transactions on April 1 and April 10. View transaction list Journal entry worksheet Record the sale on April 1."</em>

Date     Account Title and Explanation       Debit         Credit

April 1    Account receivables                      $7,000

                  Sales revenue                                               $7,000

April 10.  Cash  ($7,000*98%)                       $6,860

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                     Account receivables                                     $7,000

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Answer:

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Explanation:

See attached images for the other two cases

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