On 1 January,Ajax Company Accepted a One-Year Bill for $50,000

question 71

Multiple Choice

On 1 January,Ajax Company accepted a one-year bill for $50,000 at 5% from one of its customers.When the bill matured on 31 December,the customer was unable to pay and the company recorded the dishonour.The amount of the debit in the dishonour entry would be:

• A)$50,000
• B)$47,500
• C)$2500
• D)$52,500

---

Definitions:

Internal Causes

Factors within a person, such as their beliefs, desires, or personality traits, that influence their behavior.

External Causes

Factors outside an individual that influence behaviors, events, or outcomes, contrasting with internal factors that derive from within the person.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms or societal expectations.

Expected Behavior

Actions or reactions that are anticipated in a given context based on societal norms, rules, or personal standards.