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Assignments Review Jane borrows $100,000 on January 1 from a bank at a 12% interest rate. Jane assigns $140,000 of its accounts receivable as collateral
Assignments Review Jane borrows $100,000 on January 1 from a bank at a 12% interest rate. Jane assigns $140,000 of its accounts receivable as collateral and agreed to pay a financing fee of 2% of accounts receivable assigned. On January 1, Jane's accounting for this transaction will include: a. Debit to cash for $100,000 b. Debit to cash for $97,200 CDebit to finance expense of $2,000 d. Debit to finance expense of $1,000 Click to add notes Notes 2 99 21 - W PDF Business project paper Looking-Out-Looking-In-15th-Edition-by-Ronald-Adler-and-Russell.Proc
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