On January 1,Ajax Company Accepted a One-Year Note for $5,000

question 80

Multiple Choice

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.How much interest revenue did Ajax record at December 31?

• A) $0
• B) $200
• C) $800
• D) $24

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Definitions:

Funerary Oils

Oils used in the preparation of bodies for burial or cremation, often with the belief of purifying or consecrating the deceased.

Lapis Lazuli

A dark blue stone that undergoes metamorphosis, valued as a semi-precious gem for its vivid hue, cherished from ancient times.

Hydraulic Theory

In archaeology, the theory that explains civilization's emergence as the result of the construction of elaborate irrigation systems, the functioning of which required full-time managers whose control blossomed into the first governing body and elite social class; also known as irrigation theory.

Ecological

Pertaining to the relationships between organisms and their environment.