Business
Business, 23.11.2019 03:31, katherinegvz

Coronado incorporated factored $146,800 of accounts receivable with whispering factors inc. on a without-recourse basis. whispering assesses a 3% finance charge of the amount of accounts receivable and retains an amount equal to 7% of accounts receivable for possible adjustments. prepare the journal entry for wood incorporated and engram factors to record the factoring of the accounts receivable to engram.

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