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02-12-2019
Business

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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

Respuesta :

jepessoa jepessoa

04-12-2019

Answer:

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

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