Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 07, 2024

If company A factors $150,000 of accounts receivable with company B with Company B charging a 2% finance charge and a retainer of 6% of

If company A factors $150,000 of accounts receivable with company B with Company B charging a 2% finance charge and a retainer of 6% of Accounts receivable, how much is the interest revenue recorded by company B?

a. $1,000

b. $2,000

c. $3,000

d. $9,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Todays Mood Is Sponsored By Auditing

Authors: Ruby Publishing

1st Edition

B08BG52SST, 979-8655512771

More Books

Students also viewed these Accounting questions

Question

★★★★★

Estimate each sum or difference. 1. Using a unit other than the meter, write a length that is equivalent to 7 meters. 2. Explain why conversions in the metric system are easier to make than...

Answered: 1 week ago

Question

★★★★★

Assume the following statement appears in a program: days = 'Monday Tuesday Wednesday' Write a statement that splits the string, creating the following list: ['Monday', 'Tuesday', 'Wednesday']

Answered: 1 week ago

Question

★★★★★

Relate your own memory successes and failures to the successes and failures of your favorite technology; in what ways can you blame the technology, and in what ways can you blame the user for...

Answered: 1 week ago

Question

★★★★★

Suppose that you are the analyst charged with developing a new system to help senior managers make better strategic decisions. What requirements gathering techniques will you use? Describe in detail...

Answered: 1 week ago

Question

★★★★★

You would like to have $800,000 in 3131 years by making regular deposits at the end of each month in an annuity that pays 5 %5% compounded monthly. The table below shows the 2016 marginal tax rates,...

Answered: 1 week ago

Question

★★★★★

I need the answer as soon as possible g67 Q.79 A machine produces 0.1 or 2 defective pieces in a day with associated probability of 1/6,2/3 and 1/6, respectively. The mean value and the variance of...

Answered: 1 week ago

Question

★★★★★

Answer.... The article "The Influence of Temperature and Sunshine on the Alpha-Acid Contents of Hops"t reports the following data on yield (y), mean temperature over the period between date of coming...

Answered: 1 week ago

Question

★★★★★

Cuban Investors buys real estate, develops it, and resells it for a profit. A new property is available, and Mark Cuban, the president and owner of Cuban Investors, believes it can be sold for...

Answered: 1 week ago

Question

★★★★★

Bowling Green Financial is preparing its Budgeted Income Statement for next year. Bowling Green Financial has collected the following information about this statement: Sales for next year total...

Answered: 1 week ago

Question

★★★★★

John Parsons (123-45-6781) and George Smith (123-45-6782) are 70% and 30% owners, respectively, of Premium, Inc. (11-1111120), a candy company located at 1005 16th Street, Cut and Shoot, TX 77303....

Answered: 1 week ago

Question

★★★★★

How imperative is conducting research on the target and ensuring that the proper customers are communicated to? HaHowtherightw many companies fail to hone in on th eright consumer?

Answered: 1 week ago

Question

★★★★★

Billy Davis has applied for a $9,000 loan to buy a pre-owned automobile. As credit manager of A-1 Finance Corporation, you learn during a credit check that Billy is behind on payments for debts on...

Answered: 1 week ago

Question

★★★★★

Why is analyzing your receiver important when planning a persuasive message? (Objective 2)

Answered: 1 week ago

Question

★★★★★

For the past year, the local city bus company stopped twice daily at the main entry of Super Mega Shopping Mart for passengers to exit or enter the bus.With the heavy traffic near this entrance, the...

Answered: 1 week ago

Previous Question Next Question