Business
Business, 27.03.2020 03:30, maddieberridgeowud2s

At the end of June, the Marquess Company factored $200,000 in accounts receivable with Homemark Finance. Homemark charges a fee of 3% of receivables factored. During July, $150,000 of the factored receivables are collected. If the transfer were made with recourse but is still accounted for as a sale, what amount of loss on sale of receivables would the company record in June assuming the estimated recourse liability is $2,000?

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At the end of June, the Marquess Company factored $200,000 in accounts receivable with Homemark Fina...

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