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Save & Exit Trell Corporation transferred $60,000 of accounts receivable to a local bank. The transfer was made without recourse. The local bank remits 70%
Save & Exit Trell Corporation transferred $60,000 of accounts receivable to a local bank. The transfer was made without recourse. The local bank remits 70% of the factored amount to Trell and retains the remaining 30%. When the bank collects the receivables, it will remit to Trell the retained amount less a fee equal to 2% of the total amount factored. Trell estimates a fair value of its 10% interest in the receivables of $13,000 (not including the 2% fee). Trell will show an amount receivable from factor of Multiple Choice: $18.000 $13.000 $16.000 $1,000 Submit
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