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
Question 1 with 1 blankA man pulling a garage bag out of a can in a kitchen. Ramón Question 2 with 1 blankA woman in a bedroom putting a sheet on a bed. Rebeca Question 3 with 1 blankA man standing in a living room vacuuming a carpet.
Answers (1)
Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and A. a thorough knowledge of his brand messages. B. the ability to buy them. C. knowledge of competing products.
Answers (1)
An online medicaladvice company just completed an IPO with an investment bank on a firm-commitment basis. The firm issued 5 million shares of common stock, and the underwriting fees were $2.10 per share. The offering price was $27.90 per share.
Answers (1)
A disparate impact case: a. requires the same proof as a disparate treatment case. b. does not apply to promotions. c. requires proof of intent to discriminate. d. does not apply if a reasonable rule produces the disparate impact. e.
Answers (1)
A business provided services to a cash customer to record this transaction A. an asset is debited, and a liability is credited. B. an asset is debited, and a revenue is credited. C. an expense is debited, and Capital is credited. D.
Answers (1)
New Questions in Business
A nut store normally sells cashews for $4.00 per pound and peanuts for $1.50 per pound. But at the end of the month the peanuts had not sold well, so, in order to sell 40 pounds of peanuts, the manager decided to mix the 40 pounds of peanuts with
Answers (1)
The Bolen Company forecasts that total overhead for the current year will be $8,000,000 and that total machine hours will be 200,000 hours. Year to date, the actual overhead is $10,000,000 and the actual machine hours are 80,000 hours.
Answers (1)
Four trends in the past decade have significantly influenced the landscape of global marketing. one of them is
Answers (1)
Badger Corporation declared a stock distribution to all shareholders of record on March 25 of this year. Shareholders will receive one share of Badger stock for each 10 shares of stock they already own.
Answers (1)
Marketing ethics is most important for advertising agencies. maximizes an organization's positive impact on society. refers to principles and standards that define acceptable conduct in marketing. are laws and regulations that govern marketing.
Answers (2)