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.
$$\begin{array} { | l | l | l | }
\hline \quad\quad& \quad&\quad \
\hline & & \\hline & & \
\hline
\end{array}$$

Question

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.
 $$\begin{array} { | l | l | l | } 
\hline \quad\quad& \quad&\quad \
\hline & & \\hline & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of 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.
 $$\begin{array} { | l | l | l | } 
\hline \quad\quad& \quad&\quad \
\hline & & \\hline & & \
\hline
\end{array}$$

On January 1,Ajax Company Accepted a One-Year Note for $5,000 \begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline\end{array}​​​​

On January 1,Ajax Company Accepted a One-Year Note for $5,000 $\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline\end{array}$