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This image shows a real estate transaction ledger that needs to be completed. The details provided include:

1. **Property Sale**: Guiseppe Butler’s property at 143 Violet Place, Jacksonville, was sold to Sue Smith for $800,000 on November 1st, 2022.
2. **Deposit**: A 0.25% cash deposit was made at the time of exchange of contracts.
3. **Balance Payment**: Four days later, the remaining balance of 10% was paid via bank transfer.
4. **Settlement**: Settlement funds were disbursed on December 8th, 2022, along with a 2% agent commission.

To fill out the ledger correctly, the missing values for each row need to be calculated.

### Step-by-Step Ledger Completion:

- **Date: 01/11/2022**
  - **Description**: Deposit (0.25%)
  - **Amount**: $0.25\% \times 800,000 = 0.0025 \times 800,000 = 2,000$
  - **Method**: Cash
  - **Balance**: $2,000

- **Date: 05/11/2022**
  - **Description**: Remaining Balance Payment (10% of property price minus the 0.25% deposit)
  - **Amount**: $10\% \times 800,000 = 0.1 \times 800,000 = 80,000$. Since $2,000 was already paid, the remaining balance is $80,000 - 2,000 = 78,000$.
  - **Method**: Transfer
  - **Balance**: $80,000

- **Date: 08/12/2022**
  - **Description**: Settlement funds minus the agent's 2% commission.
  - **Commission**: $2\% \times 800,000 = 0.02 \times 800,000 = 16,000$
  - The agent's payment would be $16,000, leaving the seller with $800,000 - 16,000 = 784,000$.

Now the ledger looks like this:

| Date       | Description           | Receipt # | Method   | Amount | Balance  |
|------------|-----------------------|-----------|----------|--------|----------|
| 01/11/2022 | Deposit (0.25%)        | 101       | Cash     | 2,000  | 2,000    |
| 05/11/2022 | Balance Payment (10%)  | 107       | Transfer | 78,000 | 80,000   |
| 08/12/2022 | Settlement             | 332       | EFT      | 784,000|          |
| 08/12/2022 | Agent Commission (2%)  | 333       | EFT      | 16,000 | NIL      |

Would you like further details or have any questions?

### 5 Related Questions:
1. How is the agent's commission typically calculated in real estate transactions?
2. What other deductions might appear in a real estate trust account ledger?
3. Why is only the deposit held in a trust account?
4. How do timing differences affect the balance shown in ledgers?
5. How are late payments handled in real estate transactions?

### Tip:
Always double-check both the percentages and amounts when calculating deposits and commissions to avoid errors.

Your agency, Entry Real Estate, sold Guiseppe Butler's property at 143 Violet Place, Jacksonville for $800,000 to Sue Smith on the 1st November 2022. There was the usual initial cash deposit of 0.25% on exchange of contracts. Four days later, Sue paid the remaining balance of the 10% via bank transfer. Settlement funds were disbursed on the 8th December 2022, along with the agent's 2% commission.

Learn how to calculate deposits, balance payments, and agent commissions in a real estate trust ledger for the sale of a property priced at $800,000. Step-by-step guide to filling the ledger with calculations for a 0.25% deposit, 10% balance, and 2% agent commission.

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