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XYZ Inc. assigns $4,000,000 of its accounts receivables as collateral for a $2,000,000, 4%, loan with a bank. XYZ Inc.. expense (Finance charge) in
XYZ Inc. assigns $4,000,000 of its accounts receivables as collateral for a $2,000,000, 4%, loan with a bank. XYZ Inc.. expense (Finance charge) in the journal entry to record this transaction? OA. 00 0 ABC $160,000 $20,000 C. $80,000 OD. $40,000
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College Accounting Chapters 1-15
Authors: James Heintz
21st Edition
1285624815, 9781285624815
