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Mortonson corporation factored w recourse 300000 of ar with

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Mortonson Corporation factored, w/ recourse, $300,000 of A/R with Huskie Financing. The finance charge is 3% and 5% was retained to cover sales discounts, sales returns, and sales allowances. Mortonson estimates the recourse obligation at $7,200. What amount should Mortonson report as a loss on sale of receivables?

Reference no: EM13615495

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