Solution-What be recorded as gain on the transfer of

What be recorded as gain on the transfer of receivables

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Question - Sheffield Corp. factors $7400000 of its accounts receivables with recourse for a finance charge of 5%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Sheffield estimates the fair value of the recourse liability at $203000. What would be recorded as a gain (loss) on the transfer of receivables?

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What be recorded as gain on the transfer of receivables : Sheffield estimates the fair value of the recourse liability at $203000. What would be recorded as a gain (loss) on the transfer of receivables

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What be recorded as gain on the transfer of receivables

Reference no: EM132738478

Reference no: EM132738478

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