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

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Definitions:

Rubber Hoses

Flexible tubes constructed from rubber used for conveying liquids or gases under pressure.

Task Variety

The degree to which a job includes a variety of different activities requiring different skills and talents.

Job Rotation

A method of employee development where individuals periodically move through a variety of positions or jobs to gain broad experience.

Job Design Strategy

The process of defining how work will be performed and what tasks will be required in a given job to improve productivity and employee satisfaction.