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Business, 02.12.2021 03:30 hugoreyes16jr

Trell Corporation transferred $57,000 of accounts receivable to a local bank. The transfer was made without recourse. The local bank remits 70% of the factored amount to Trell and retains the remaining 30%. When the bank collects the receivables, it will remit to Trell the retained amount less a fee equal to 2% of the total amount factored. Trell estimates a fair value of its 10% interest in the receivables of $11,500 (not including the 2% fee). Trell will show an amount receivable from factor of:

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Trell Corporation transferred $57,000 of accounts receivable to a local bank. The transfer was made...
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