On January 1, Ajax Corp Accepted a One-Year Note for $50,000

question 68

Multiple Choice

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

• A)$47,500.
• B)$2,500.
• C)$50,000.
• D)$52,500.

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