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On October 1 0 , 2 0 2 3 , D Manufacturing factored its accounts receivable with a book value of $ 1 0 0
On October D Manufacturing factored its accounts receivable with a book value of $ to V Bank. The transfer was made without recourse. V bank charged a finance charge equal to of the factored amount and retained of the factored amount to cover sales returns and allowances. Prepare the journal entries for D Manufacturing and V Bank
On October D Manufacturing factored its accounts receivable with a book
value of $ to V Bank. The transfer was made without recourse. V bank charged a finance charge equal to of the factored amount and retained of the factored amount to cover sales returns and allowances.
Prepare the journal entries for D Manufacturing and V Bank
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