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Summerz Company Granted an Extension on an Open Account by Accepting

Question 20

Multiple Choice

Summerz Company granted an extension on an open account by accepting a 30-day note for $7,000 dated June 20, from SunnyView Company. To raise cash, Summerz sold the note to a bank on June 29. The days held by endorser and the discount period of the note is:​


A) ​9 days and 21 days, respectively.
B) ​21 days and 9 days, respectively.
C) ​8 days and 22 days, respectively.
D) ​10 days and 20 days, respectively.

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