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I need the answer as soon as possible ABC sells Rs. 100,000 of its accounts receivables to a factor and receives an 80% advance immediately.

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ABC sells Rs. 100,000 of its accounts receivables to a factor and receives an 80% advance immediately. The factor charges a fee of Rs. 8,000 for the service. The debts are factored with recourse and a further advance of 12% will be received by the seller if the customer pays on time

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