Tune Tones Instrument Tuning Company owes Mandy Lynn's Music Studio $4,856 as of November 1.During November Tune Tones purchased merchandise from Mandy Lynn totaling $8,495 and made payments on account to Mandy Lynn in the amount of $7,250.The amount Tune Tones owes Mandy Lynn on November 30 is:
A) $6,101
B) $3,611
C) $10,889
D) $7,250

Question

Quizplus · Accepted Answer

The amount owed on November 1 was $4,856. Purchases during November were $8,495, making the total owed $13,351. Payments made were $7,250, so the remaining balance is $13,351 - $7,250 = $6,101.

Tune Tones Instrument Tuning Company Owes Mandy Lynn's Music Studio