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Bam Company factored P8,000,000 of accounts receivable to Rich Company on July 1 of the current year. Control was surrendered by Bam Company. Rich Company

Bam Company factored P8,000,000 of accounts receivable to Rich Company on July 1 of the current year. Control was surrendered by Bam Company. Rich Company assessed a fee of 5% and retained a holdback ...

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