Enter the following sales transaction into the Ledger/Journal (table below).
You have negotiated the sale of Mr and Mr Emerald's home at 8 Knowle Court, Ocean Grove for $1,000 000. The purchasers, Mr and Mrs Teal are signing the contract and have negotiated 10% deposit. With 0.25% payable upon signing the contract, 4.75% payble after the cooling off period and 5% payable upon settlement.
01/04/2022: Paid the 0.25% initial deposit (Receipt Number: 455)
08/04/2022: The cooling-off period expires today, under negotiation, only remaining balance of 5% is to be paid today.
04/05/2022: Settlement Day, Remainder of balance is payable today - 5%.
06/05/2022: Sale has been completed, you are able to draw on your $22,000 commission and the remaining balance to be paid to the vendors account: BSB 777 888 Account 333 444 55
There have been no other receipts between these transactions, prepare the ledger below to show these transactions.

Question

17-07-2024
Law

Answered

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Enter the following sales transaction into the Ledger/Journal (table below).
You have negotiated the sale of Mr and Mr Emerald's home at 8 Knowle Court, Ocean Grove for $1,000 000. The purchasers, Mr and Mrs Teal are signing the contract and have negotiated 10% deposit. With 0.25% payable upon signing the contract, 4.75% payble after the cooling off period and 5% payable upon settlement.
01/04/2022: Paid the 0.25% initial deposit (Receipt Number: 455)
08/04/2022: The cooling-off period expires today, under negotiation, only remaining balance of 5% is to be paid today.
04/05/2022: Settlement Day, Remainder of balance is payable today - 5%.
06/05/2022: Sale has been completed, you are able to draw on your $22,000 commission and the remaining balance to be paid to the vendors account: BSB 777 888 Account 333 444 55
There have been no other receipts between these transactions, prepare the ledger below to show these transactions.

Sagot :

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