Adil is paid a commission amount of 2280 RO.During January 2020, his sales were 38,000 RO.What is the rate of commission?Select one:a. 4%O b. 15%O c. 6%O d. 10%

Commission is the amount paid to the salesperson or agent in exchange of services provided by such…

Answered: Adil is paid a commission amount of…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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moodle1.du.edu.om/mod/quiz/atte Moodle English (en) - The following sales and purchases are expected over the Four-month period from December to March Purchases Sales December OMR 30000 OMR 26000 January OMR 25000 OMR 30000 February OMR 24000 OMR 24000 March OMR 26000 OMR 28000 Additional Information: 1. Wages are paid each month of OMR 2000, which are paid in month that they are incurred 2. 30% of the Sales are on credit - and we allow one-month credit period - and 70% of the sales for immediate settlement 3. 40% of the Purchases are on credit - and 1 month credit period - and 60% of the purchases are for immediate settlement 4. The balance of cash as at 1 January was OMR 9000 If the company is preparing a budget from January to March, what will be the Closing balance of cash on March ? Select one: O a. OMR 7800 Oh OMR 2500 to search DELL F5 F6 F10 44 41 # 24 % % & 3 4 5 8 A E Y F GY H i RY NI ÍM この * 00
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Faeber Textile Company frequently factors its accounts receivable. During 2019, Faeber made credit sales of $100,000 to customers, under terms of 2/10, n/30. Faeber records its credit sales using gross price. In 2019, Faeber sold $70,000 of these receivables to a factor. The factor remitted 90% of the accounts receivable factored and charged a 12% commission on the gross amount of the factored receivables. The factoring agreement also requires Faeber to be responsible for any cash discounts taken by customers upon payment of the factored receivables. Faeber is charged for these cash discounts upon reimbursement by the factor. During 2019, the factor collected the remaining amount of the factored receivables, minus the 2% discount on 94% of the collected receivables, and returned the balance owed to Faeber. Faeber collected the remaining amount of the unfactored accounts receivable, minus the 2% discount on 96% of the collected receivables. Required: Prepare all the journal entries…
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Adil is paid a commission amount of 2280 RO. During January 2020, his sales were 38,000 RO. What is the rate of commission? Select one: а. 4% O b. 15% с. 6% d. 10%