Homework Answers
According to the question,
Initial investment cost= $5000
Cash flows amount= $ 500
So, payback period= initial investment/cash flows
= $5000/$500= 10 months
Thus payback period for this real estate agent is 10 months to generate additional revenue.
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March 31, 2019
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Cash
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4
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5
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Accounts Payable
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7
Unearned Rent
8
Notes Payable
9
Lester Wagner, Capital
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10
Lester Wagner, Drawing
2,400.00
11
Fees Earned
243,100.00
12
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