Solution-What amount of cash received at the time of the

What amount of cash received at the time of the transfer was

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Problem 1: Brown Company assigned ?4,000,000 of accounts receivable to AB Finance as a security for a loan of ?3,200,000. AB Finance charged a 3% commission on the amount of the loan, the interest rate on the note was 12%. During the first month, Brown collected returns worth ?50,000 and wrote-off assigned accounts totaling ?20,000. The amount of cash received at the time of the transfer was

Reference no: EM132779790

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What amount of cash received at the time of the transfer was : Brown collected returns worth ?50,000 and wrote-off assigned accounts totaling ?20,000. The amount of cash received at the time of the transfer was

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What amount of cash received at the time of the transfer was

Reference no: EM132779790

Reference no: EM132779790

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