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A joint check is written for a $12,300 supplier invoice and 10 percent retainage is withheld by written agreement. What joint-check amount is paid now?

Correct Answer

A) $11,070.

Ten percent retainage is $1,230, so the current joint-check amount is $12,300 - $1,230 = $11,070.

Answer Options
A
$11,070.
B
$1,230.
C
$12,300.
D
$13,530.

Why This Is the Correct Answer

Ten percent retainage is $1,230, so the current joint-check amount is $12,300 - $1,230 = $11,070.

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