Asked by Kaitlyn Conigliaro on Jul 21, 2024
Verified
Failure by a promissory notes' maker to pay the amount due at maturity is known as:
A) Protesting a note.
B) Closing a note.
C) Dishonoring a note.
D) Discounting a note.
E) Depreciating a note.
Dishonoring a Note
The failure to pay a promissory note when due, which can result in legal action and damage to the borrower's creditworthiness.
Promissory Note
A finance-related instrument embodying a guarantee by one party to pay a certain party a designated sum of money, redeemable upon demand or on a specific forthcoming date.
- Gauge the maturity worth of notes receivable and account for the financial gains from interest.
Verified Answer
Learning Objectives
- Gauge the maturity worth of notes receivable and account for the financial gains from interest.
Related questions
Duerr Company Makes a $60,000,60-Day,12% Cash Loan to Ryan Co \(\bold{\text{(Use ...
Jasper's Entry to Record the Transaction Should Be ...
Jax Recording Studio Purchased $7,800 in Electronic Components from Music ...
Giorgio Italian Market Bought $4,000 Worth of Merchandise from Food ...
Giorgio Italian Market Bought $4,000 Worth of Merchandise from Food ...