A company, needing cash, factored $600,000 of its Accounts Receivable, without recourse The factor charged a finance fee of 3 and retained an amount equal to 5 of accounts receivable Prepare the journal entry to record the transaction, on the books of both the selling company and the factor A comp...

1 Journal entries in the books of comp ...

A company, needing cash, factored $600,000 of its Accounts Receivable, without recourse. The factor charged a...

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Cornerstones of Financial and Managerial Accounting

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A company, needing cash, factored $600,000 of its Accounts Receivable, without recourse. The factor charged a...

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Cornerstones of Financial and Managerial Accounting

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