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answer fast plzzz Question 4 8 pts Assume Questions 3-6 are completely independent of each other (ie, do not carryforward information from one part to
answer fast plzzz
Question 4 8 pts Assume Questions 3-6 are completely independent of each other (ie, do not carryforward information from one part to another part). On December 31, 2018, Rube Goldberg Inc., a mouse-trap manufacturer that builds better mouse-traps, wants to use their customer receivables to raise capital from Super Financing Corp (SFC). Assume Company A sells $200,000 of its receivables to SFC with recourse. SFC charges a 3% finance fee service. The recourse obligation related to default risks has a fair value of $11,000. Assume this transaction qualifies for sale accounting treatment REQUIRED: Provide the journal entry to record the sale of receivables. SONY Step by Step Solution
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