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F0814 Question 11 (2.5 points) On November 1, Fox Company borrowed $25,000 from County Bank, pledging $30,000 of accounts receivable as security on the loan.

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F0814 Question 11 (2.5 points) On November 1, Fox Company borrowed $25,000 from County Bank, pledging $30,000 of accounts receivable as security on the loan. As a result, Fox: O records $5,000 of Factor Fee Expense. none of the responses are correct. O passes the risk of bad debts to County Bank. transfers ownership of the accounts receivable to County Bank. Previous Page Next Page Page 14 of 36

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