​A Home Furnishings Salesperson Works on a Commission-Only Basis

question 24

Short Answer

​A home furnishings salesperson works on a commission-only basis. He earns an 11% commission on all sales that are final, i.e., merchandise is not returned. Last month sales were $48,500, but $7,400 worth of furnishings were returned. What was the salesperson's commission for last month?

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Definitions:

Company B

A placeholder name typically used in examples or case studies to represent a hypothetical company.

Consultant's Fee

Payments made to an expert for providing professional advice or services.

Computer Equipment

Computer equipment encompasses the physical parts of a computer system, including the central processing unit, monitor, keyboard, and mouse, among other components.

Construction Loan

Short-term financing used to cover the cost of building or renovating a property until long-term financing can be secured.