Business, 23.03.2020 22:40, emmaline11
Mountain High Ice Cream Company transferred $66,000 of accounts receivable to the Prudential Bank. The transfer was made without recourse. Prudential remits 90% of the factored amount to Mountain High and retains 10%. When the bank collects the receivables, it will remit to Mountain High the retained amount (which Mountain estimates has a fair value of $5,600) less a 2% fee (2% of the total factored amount).
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Mountain High Ice Cream Company transferred $66,000 of accounts receivable to the Prudential Bank. T...
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