Multiple Choice
On 1 January, Ajax Company accepted a one- year bill for $5 000 at 4% from one of its customers. When the bill matured on 31 December, the customer was unable to pay, and Ajax treated it as a dishonoured bill. How much interest revenue did Ajax record at 31 December?
A) $0
B) $24
C) $200
D) $800
Correct Answer:
Verified
Correct Answer:
Verified
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