Question
Danzig Inc. factors$10,000,000 of its accounts receivables without recourse for a finance charge of 4%.The finance company retains an amount equal to 10% of the
Danzig Inc. factors$10,000,000 of its accounts receivables without recourse for a finance charge of 4%.The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. What would be recorded by Danzig as a gain (loss) on the transfer of receivables?
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Lease Audits The Essential Guide
Authors: Theodore H Hellmuth
1st Edition
0934055041, 978-0934055048
