A US firm has an Account Receivable from a contract delivered to a firm in Canada. It
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Question:
A US firm has an Account Receivable from a contract delivered to a firm in Canada. It is expecting to receive payment of C$1 million in a year. What is the bankable value of their account receivable if they took it to a money market bank and "factored" or borrowed against it? Answer first in C$ to 0 decimal places (without $ or C$ signs).
answer the same question as above but giving the US$ value that the bank would return
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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