Alpha Inc. wants to dispose of $100,000 of its receivables by selling them to the bank in
Fantastic news! We've Found the answer you've been seeking!
Question:
Alpha Inc. wants to dispose of $100,000 of its receivables by selling them to the bank in exchange for cash. The bank charges a 5% factoring fee. The transaction will include a debit to:
a. Factoring Expense $5,000
b. Cash $100,000
c. Interest Expense $10,000
d. Accounts Receivable $95,000
Expert Answer:
Related Book For 
Posted Date:
