Chosen Solution
Is it possible to put a PC2-5300-1-GB (instead of PC2700 1 GB) Memory Chip in the Memory Slot of the iBook G4 14" 1.2 GHz model?
No their internal makeup is different and would probably damage your logic board if you tried. Far better to either sell the PC2-5300 and buy the correct memory or possibly trade for the correct memory.