Ask Question
4 January, 23:30

Mix Recording Studios purchased $7,800 in electronic components from TechCom. Mix Recording Studios signed a 60-day, 10% promissory note for $7,800. If the note is dishonored, what is the amount due on the note?

a. $130

b. $7,800

c. $7,930

d. $8,050

e. $8,130

+1
Answers (1)
  1. 5 January, 03:02
    0
    C) $7,930

    Explanation:

    The amount due on the note should equal the principal and the accrued interest of the note.

    The principal (the amount borrowed) of the note is $7,800.

    The accrued interest is: $7,800 x (2/12) x 10% = $130.

    The total amount of the note = $7,800 + $130 = $7,930
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Mix Recording Studios purchased $7,800 in electronic components from TechCom. Mix Recording Studios signed a 60-day, 10% promissory note ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers