Business, 03.12.2021 04:40 tuchikitacristoyaidi

Zach Corp. pays commissions to its sales staff at the rate of 3% of net sales. Sales staff are not paid salaries but are given monthly advances of $15,000. Advances are charged to commission expense, and reconciliations against commissions are prepared quarterly. Net sales for the year ended March 31 were $15,000,000. The unadjusted balance in the commissions expense account on March 31 was $400,000. March advances were paid on April 3. In its income statement for the year ended March 31, what amount should Zach report as commission expense?

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Zach Corp. pays commissions to its sales staff at the rate of 3% of net sales. Sales staff are not p...

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