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Terry McNutt, a single employee with two withholding allowances, is paid $10.50 per hour and...

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Accounting

Terry McNutt, a single employee with two withholding allowances, is paid $10.50 per hour and receives commission on net sales. He does not receive a commission until his net sales exceed $150,000. Once the minimum net sales is reached, he receives 1 percent commission on all of his sales at Skidoo Sports. During the week of January 23, he sold $86,000 of ski equipment; however, he had $2,000 of returns from the prior weeks sales. Company policy requires that commissions on sales returns are deducted from the employees pay, regardless of current commission earnings. Required: Compute Terrys gross pay for the 40 hour weekly pay period. (Negative amount(s) should be indicated by a minus sign.)

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