Koykoy is a sales agent of Mikoy Car Company. He was able to sell reposed car worth $648,000.00. He gave his buyer a discount of 35,000.00 His buyer paid a down payment that is 20% of the net price. The balance will be paid through bank financing.
Koykoy is a sales agent of Mikoy Car Company. He was able to sell reposed car worth $648,000.00. He gave his buyer a discount of 35,000.00 His buyer paid a down payment that is 20% of the net price. The balance will be paid through bank financing.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Koykoy is a sales agent of Mikoy Car Company. He was able to sell reposed car worth $648,000.00. He gave his buyer a discount of 35,000.00 His buyer paid a down payment that is 20% of the net price. The balance will be paid through bank financing.
Question:
12. What is KoyKoy's net commission if the commission rate is 3%?
a. 5, 191.15
b. 5, 291.15
c. 5, 391.15
d. 5, 491. 15
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