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PRINCIPAL-AGENT RELATIONSHIPS Jensen Realty markets and sells single family homes built by Shaky Construction Company. Jensen Realty passes papers (completes a sale) of one of

PRINCIPAL-AGENT RELATIONSHIPS

Jensen Realty markets and sells single family homes built by Shaky Construction Company.

Jensen Realty passes papers (completes a sale) of one of these homes and

receives cash of $800,000. The agreed upon commission is 3%.

Prepare Jensen Realty's journal entry to record this transaction.

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