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Problem 1 On April 1, 2014, Somers Company assigns $200,000 of its accounts receivable to Third National Bank as collateral for a $100,000 loan due

Problem 1 On April 1, 2014, Somers Company assigns $200,000 of its accounts receivable to Third National Bank as collateral for a $100,000 loan due July 1, 2014. The assignment agreement calls for Som...

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