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Business, 20.03.2020 09:20 lisamccray45

On April 1, Aloe, Inc., factored $80,000 of its accounts receivable without recourse. The factor retained 10% of the accounts receivable as an allowance for sales returns and charged a 5% commission on the gross amount of the factored receivables. What amount of cash did Aloe receive from the factored receivables?

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On April 1, Aloe, Inc., factored $80,000 of its accounts receivable without recourse. The factor ret...
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