Factoring: A firm sells $100,000 of its accounts receivable to factors at a 2 percent discount. The
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Factoring: A firm sells $100,000 of its accounts receivable to factors at a 2 percent discount. The firm’s average collection period is one month. What is the dollar cost of the factoring service?
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9781119795438
5th Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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