Question
Sheffield Corp. factors $7400000 of its accounts receivables with recourse for a finance charge of 5%. The finance company retains an amount equal to 10%
Sheffield Corp. factors $7400000 of its accounts receivables with recourse for a finance charge of 5%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Sheffield estimates the fair value of the recourse liability at $203000. What would be recorded as a gain (loss) on the transfer of receivables?
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Leading Strategic Change In An Era Of Healthcare Transformation
Authors: Jim Austin ,Judith Bentkover ,Laurence Chait
1st Edition
3319808826, 978-3319808826
