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Business, 10.12.2019 05:31 hamada11617

Ames quartet inc. factors receivables with a carrying amount of $200,000 to joffrey company for $160,000 on a with recourse basis. the recourse provision has a fair value of $1,000. this transaction should be recorded as a sale. prepare the appropriate journal entry to record this transaction on the books of ames quartet inc.

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Ames quartet inc. factors receivables with a carrying amount of $200,000 to joffrey company for $160...
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