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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
On January 1, Ajax Corp. accepted a one-year note for $55,000 at 7% 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 recorded on December 31 is ________.
A) $55,000
B) $58,850
C) $3,850
D) $51,150
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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TanksTanks
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7 years ago
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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#3
4 years ago
Thank you so much!
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#4
4 years ago
so helpful
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