Solution-What would be recorded by Danzig as a gain

What would be recorded by Danzig as a gain

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Question - Danzig Inc. factors $3,000,000 of its accounts receivables without recourse for a finance charge of 5%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. What would be recorded by Danzig as a gain (loss) on the transfer of receivables?

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What would be recorded by Danzig as a gain

Reference no: EM132922448

Reference no: EM132922448

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