Indigo Incorporated factored $135,100 of accounts receivable with Sweet Factors Inc. on a without-recourse basis. Sweet assesses a 3% finance charge of the amount of accounts receivable and retains an amount equal to 7% of accounts receivable for possible adjustments. Prepare the journal entry for Indigo Incorporated and Sweet Factors to record the factoring of the accounts receivable to Sweet.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Indigo Incorporated factored $135,100 of accounts receivable with Sweet Factors Inc. on a without-recourse basis. Sweet assesses a 3% ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Moral entrepreneurs people who wage moral crusades to control criminal law are a part of which view of crime?
Answers (1)
Selling the bonds at a premium has the effect of a. raising the effective interest rate above the stated interest rate b. causing the interest expense to be lower than the bond interest paid c.
Answers (1)
Rank bonds, common stock, and preferred stock with regard to two factors the possibility of a substantial increase in value. Rank these same securities with regard to investors' legal claims for repayment on their investments.
Answers (2)
Hows my song Memories are all I have Memories of you Memories of happy days When our love grew Verse 1 I see your face Before me now I see your eyes of blue Now you're gone I don't know where What am I to do Verse 2 I feel your skin Through my hands
Answers (1)
Each of the following people bought a watch that costs $300. Which of the following people will pay the most for their purchase A. Sarah paid cash B. edgar paid with a credit card and paid the minimum payment each month C.
Answers (2)
New Questions in Business
Eassy on covering tattoos in the medical field
Answers (1)
Which source of power would you apply if you use your personal charisma and punctuality to motivate location managers and employees to emulate (or be like) you?
Answers (1)
Andy assumed the character of jude in order to confront the
Answers (1)
Technician a says that a brake spoon is used to adjust brake shoes when the drum is installed. technician b says that a brake hold-down spring tool is used to remove and install hold-down springs. who is correct?
Answers (1)
Last week john got a call from his contact eric at alpine telecomm in switzerland, one of his company's largest international customers.
Answers (1)