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Scenario: You work for Entry Real Estate, an exciting new real estate agency that specialises...

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Accounting

Scenario: You work for Entry Real Estate, an exciting new real estate agency that specialises in property sales and management. The agency sold Jack Butler's property at 10 Albert Place, Albert Town for $800,000 to Sue Smith on 1st of the month. There was the usual, initial cash deposit of 0.25% on exchange of contracts. Four days later Sue paid the balance of 10% via bank transfer. Task 1 Complete the attached ledger, showing both of these deposits together with settlement funds paid to the vendor today and the agent's commission of 2%

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