Complete the following table:| **Employee** | **Total sales** | **Commission rate** | **Draw** | **End-of-month commission received** ||--------------|----------------|---------------------|----------|---------------------------------------|| Ryan | $291,000 | 6% | $7,800 | |**Instructions for Calculation:**To complete the table, calculate the end-of-month commission received by using the following steps:1. **Calculate the Total Commission**: Multiply the total sales by the commission rate. - Formula: Total Commission = Total Sales × Commission Rate - For Ryan: $291,000 × 6% = $17,4602. **Determine the End-of-Month Commission Received**: Subtract the draw from the total commission. - Formula: Commission Received = Total Commission - Draw - For Ryan: $17,460 - $7,800 = $9,660Thus, the completed table should reflect the end-of-month commission received by Ryan as $9,660.

Answered: Complete the following table: Employee…

Complete the following table: Employee Ryan Total sales $ 291,000 Commission rate 6 % Draw $ 7,800 End-of-month commission received

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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