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If company sells its accounts receivables to a factor (such as a finance company), a. the selling company records a contra-revenue for the fee paid
If company sells its accounts receivables to a factor (such as a finance company), a. the selling company records a contra-revenue for the fee paid to the factor. a. O b. the selling company remains responsible for collecting cash from the customers. c. the selling company credits accounts receivable for the amount of cash received d. the selling company records a service charge expense
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