Solution-What would be recorded as a loss on transfer of

What would be recorded as a loss on transfer of receivables

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Problem - Desert Company factors $6,159,928 of its accounts receivable with recourse for a finance charge of 3%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Desert estimates the fair value of the recourse liability at $340,300. What would be recorded as a loss on the transfer of receivables?

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What would be recorded as a loss on transfer of receivables

Reference no: EM132862568

Reference no: EM132862568

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