VPN, Inc enters into an arrangement with Malone Enterprises by which Malone will purchase $105,500 of VPN's receivables and charge a 8 fee As part of the agreement, Malone will hold back $8,600 as additional security VPN sold the receivable with recourse, and the estimated recourse liability is $3...

Journal entry Date Particulars Debit ...

VPN, Inc. enters into an arrangement with Malone Enterprises by which Malone will purchase $105,500 of...

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Intermediate Accounting Reporting and Analysis

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