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Sun Inc assigns $2,000,000 of its accounts receivables as collateral for a $1 million 8% loan with a bank. Sun Inc. also pays a finance
Sun Inc assigns $2,000,000 of its accounts receivables as collateral for a $1 million 8% loan with a bank. Sun Inc. also pays a finance fee of
1% on the transaction upfront. What would be recorded as a gain (loss) on the transfer of receivables?
how to calculate this
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