Answer:
See explanation section.
Explanation:
A) Accounts Receivable $8,780
Sales Revenue $8,780
<em>Sarasota Company sold its specialty shelving to Elkins Office Supply Co. on account.</em>
(b) Sales Returns and Allowances $215
Allowances for Sales Returns and Allowances $215
<em>To record an additional $215 in allowances to Elkins. </em>
(c) Allowance for Sale Returns and Allowances $706
Accounts Receivable $706
<em>To record an allowance of $706 when some of the shelving does not meet exact specifications. It means the products were damaged or defected.</em>
As soon as an agent or a broker accepts an earnest money deposit on behalf of a seller, they become an escrow agent, and the money is placed in an escrow account.
So whenever a licensed real estate firm or an agent holds any earnest money, it must be deposited in a trust or escrow account until the closing. The earnest money deposit is said to be mandatory as the deposit gives buyers the time required to sort out their finances, conduct inspections, and evaluate investment, before a deal is closed.
However, if the buyer does not deposit the earnest money with the escrow agent within a reasonable time after contract execution, the buyer thus would be in default.
Hence, an escrow account is one which you fund each month.
To learn more about escrow account here:
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Answer:
budget enough money for attractive pay levels.
Explanation:
Answer:
Market price of Bond = $4603.116669 rounded off to $4603.12
Explanation:
To calculate the price of the bond, we need to first calculate the coupon payment per period. We assume that the interest rate provided is stated in annual terms. As the bond is a semi annual bond, the coupon payment, number of periods and semi annual YTM will be,
Coupon Payment (C) = 5000 * 0.0363 * 1/2 = $90.75
Total periods (n)= 23 * 2 = 46
r = 4.17% * 1/2 = 2.085% or 0.02085
The formula to calculate the price of the bonds today is attached.
Bond Price = 90.75 * [( 1 - (1+0.02085)^-46) / 0.02085] + 5000 / (1+0.02085)^46
Bond Price = $4603.116669 rounded off to $4603.12
