On January 1, Ajax Company accepted a one-year note for $5,000 at 4% from one of its customers. When the note matured on December 31, the customer was unable to pay, and Ajax treated it as a dishonored note. Please provide the journal entry needed by Ajax.
Definitions:
Upper Mantle
The upper mantle refers to the section of the Earth's mantle situated just beneath the Earth's crust, extending down to about 660 kilometers below the Earth's surface. This region is significant for its role in tectonic movements and the convection currents that drive plate tectonics.
Earth's Layers
The division of the Earth into distinct layers including the crust, mantle, and core, each with its own properties and composition.
Surface
The outermost or uppermost layer of an object or area which is in direct contact with the environment.
Upper Mantle
The upper mantle refers to the portion of the Earth's mantle that lies just beneath the crust and extends to depths of about 660 kilometers, involved in tectonic processes.
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