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Question Completion Status: On May 1, Dandee, Inc. factored $1,800,000 of accounts receivable with Evergreen Finance on a without recourse basis. Under the arrangement, Dundee was to handle disputes concerning service, and Evergreen Finance was to make the collections, handle the sales discounts, and absorb the credit losses, Evergreen Finance assessed a finance charge of ?% of the total accounts receivable factored and retained an amount to cover sales discounts. If Evergreen Finance decides to withhold 2% of the A/R factored to cover returns/allowances and discounts then what interest percentage did Evergreen Finance charge for the factoring if interest is based on the balance of A/R factored? Just write the number without the % sign. If you think the answer is 12%, write 12. NOTE: Net proceeds are $1,656,000 6 QUESTION 2 Regarding the information from Question 1, the incremental change to Evergreen Finance's working capital is how many dollars? -108000 QUESTION 3 Assume the same information from question 1. Suppose also that a few weeks later $1,600,000 of receivables are collected and the remainder of the receivables are written off. DTS is also settled. Assume Evergreen Finance's balance of allowance for dla is zero so DON'T use the allowance account when making your entry for the writeoff. What is the incremental impact of these transactions on Dundee's Net Income? Click Save and submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close QUESTION 4 Assume same info as No. 1. What is the incremental impact on Evergreen Finance's net income when the $1,600,000 of receivables are collected? 0