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Business, 22.03.2021 22:00 lizycacer863

ABC Inc. factors $6,000,000 of its accounts receivables without recourse for a finance charge of 10%. The finance company retains an amount equal to 5% of the accounts receivable for possible adjustments. What would be recorded as a gain (loss) on the transfer of receivables

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ABC Inc. factors $6,000,000 of its accounts receivables without recourse for a finance charge of 10%...
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