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Need help solving all 7 accounts. Thank you! Factoring Blair Finance factors the accounts of the Holder Company. All eight factored accounts are shown in
Need help solving all 7 accounts. Thank you!
Factoring Blair Finance factors the accounts of the Holder Company. All eight factored accounts are shown in the following table, E, with the amount factored, the date due, and the status on May 30 Indicate the amounts that Blair should have remitted to Holder as of May 30 and the dates of those remittances. Assume that the factor's commission of 3% is deducted as part of determining the amount of the remittance. As of May 30, what amount should Blair have remitted for Account A and on what date should remittance have occurred? (Round to the nearest dollar and select from the drop-down menus.) Date remitted Month Account Amount Date due Status on May 30 Amount remitted Date A $500,000 May 30 Collected May 21S Date due May 30 May 30 May 30 June 6 May 30 June 15 May 17 June 20 Status on May 30 Collected May 21 Uncollected Uncollected Collected May 30 Collected May 26 Collected May 30 Uncollected Collected May 30 Account Amount S500,000 $221,595 S286,156 $177,266 S302,751 $439,688 $226,837 $74,149 Factoring Blair Finance factors the accounts of the Holder Company. All eight factored accounts are shown in the following table, E, with the amount factored, the date due, and the status on May 30 Indicate the amounts that Blair should have remitted to Holder as of May 30 and the dates of those remittances. Assume that the factor's commission of 3% is deducted as part of determining the amount of the remittance. As of May 30, what amount should Blair have remitted for Account A and on what date should remittance have occurred? (Round to the nearest dollar and select from the drop-down menus.) Date remitted Month Account Amount Date due Status on May 30 Amount remitted Date A $500,000 May 30 Collected May 21S Date due May 30 May 30 May 30 June 6 May 30 June 15 May 17 June 20 Status on May 30 Collected May 21 Uncollected Uncollected Collected May 30 Collected May 26 Collected May 30 Uncollected Collected May 30 Account Amount S500,000 $221,595 S286,156 $177,266 S302,751 $439,688 $226,837 $74,149Step by Step Solution
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