Ayayai Company sold $104000 worth of goods on account to Bramble Inc. on June 20 . Ayayai marks all goods up 25% on cost. Bramble has 45 days to return the goods for any reason. On July 1, Bramble returns $9100 worth of goods. Ayayai expects to be able to resell the returned goods at a profit. The journal entries for Ayayai to record the initial sales on June 20 included debits to No entry can be made because the items can be returned. Inventory for \$104000, and Cash for \$83200. Accounts Receivable for $104000, and Cost of Goods Sold for $83200. Accounts Receivable for $104000, and Sales of $83200. Your answer is incorrect. Swifty Inc. assigns $5100000 of its accounts receivables as collateral for a $1.9 million 7% loan with a bank. Swifty also pays a finance fee of 1% on the transaction upfront. What would be recorded as a loss on the transfer of receivables? $0. Loss of $51000. Loss of $357000. Loss of $408000. Your answer is incorrect. If a company purchases merchandise on terms of 1.3/20,n/30, the cash discount available (assuming a 360 -day year) is equivalent to an effective annual interest rate of 1.3%.46.8%15.6%60.0%