A house was listed for $180,000. The owners owe $130,000 on a first mortgage. The listing agent receives an offer for $120,000. The agent knows the closing costs will be $4,560 and attorney's fees $5,440. The agent should:
a) Tell the buyers they should pay the closing costs.
b) Refuse to present the offer to the owner because he knows it is less than the owner owes.
c) Present the offer to the sellers and tell them to reject the offer.
d) Present the offer to the owner
Answer: d) Present the offer to the owner
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Sports, Inc, plans to sell season football tickets for the 10 games played from September through November. These tickets sell for $5 each at the gate or for $45 per season package purchased before April 30 . On April 30, the office reports that it has sold 200 season ticket packages and has only 50 left. The correct entry to record the sale of the season tickets is
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