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On is a salesperson who receives an annual salary of $24,000 paid semimonthly plus commissions of 5% of the retail price of each unit he sells which is paid. me final pay date of the month. During his first month of employment, he sold four units with a total retail price of $7,000 and requested a 5% draw against his 15,000 monthly minimum sales, in accordance with his employment agreement. How much should Alex receive in his gross pay for the end of his first month? Multiple Choice $1,000.00

On is a salesperson who receives an annual salary of $24,000 paid semimonthly plus commissions of 5% of the retail price of each unit he sells which is paid. me final pay date of the month. During his first month of employment, he sold four units with a total retail price of $7,000 and requested a 5% draw against his 15,000 monthly minimum sales, in accordance with his employment agreement. How much should Alex receive in his gross pay for the end of his first month? Multiple Choice $1,000.00

FINANCIAL ACCOUNTING
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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Jon is a salesperson who receives an annual salary of $24,000 paid semimonthly plus commissions of 5% of the retail price of each unit he sells which is paid on the final pay date of the month. During his first month of employment, he sold four units with a total retail price of $7,000 and requested a 5% draw against his $15,000 monthly minimum sales, in accordance with his employment agreement. How much should Alex receive in his gross pay for the end of his first month? Multiple Choice о $1,000.00 $1,350.00 $1.750.00 Help Save & Exit $2,100.00
Transcribed Image Text:Jon is a salesperson who receives an annual salary of $24,000 paid semimonthly plus commissions of 5% of the retail price of each unit he sells which is paid on the final pay date of the month. During his first month of employment, he sold four units with a total retail price of $7,000 and requested a 5% draw against his $15,000 monthly minimum sales, in accordance with his employment agreement. How much should Alex receive in his gross pay for the end of his first month? Multiple Choice о $1,000.00 $1,350.00 $1.750.00 Help Save & Exit $2,100.00
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