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Gar Co. factored its receivables without recourse with Ross Bank. Gar received cash as a result of this transaction. How is this procedure best described?

Gar Co. factored its receivables without recourse with Ross Bank. Gar received cash as a result of this transaction. How is this procedure best described? | O Sale of Gar's accounts receivable to Ross, with the risk of uncollectible accounts transferred to Ross O Loan from Ross collateralized by Gar's accounts receivable Loan from Ross to be repaid by the proceeds from Gar's accounts receivable

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