What would be recorded as a gain (loss) on the transfer, Accounting Basics

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What would be recorded as a gain (loss) on the transfer

Sun Inc. factors $2,000,000 of its accounts receivables with recourse for a finance charge of 3%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Sun estimates the fair value of the recourse liability at $100,000. What would be recorded as a gain (loss) on the transfer of receivables?

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Accounting Basics: What would be recorded as a gain (loss) on the transfer

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Accounting Basics: What would be recorded as a gain (loss) on the transfer

Reference No:- TGS071489

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is the amount of casey''s deduction

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Ask an Expert for Answer!!

Accounting Basics: What would be recorded as a gain (loss) on the transfer

Reference No:- TGS071489

Recent Questions Asked Accounting Basics

Q : What is the amount of casey''s deduction

Q : What cost would accountant measure

Q : Explain the concept of system boundaries

Q : Calculation federal withholding

Q : What would be recorded as a gain (loss) on the transfer

Q : Basic tenets of democracy

Q : Amount of federal income tax withheld

Q : What is the dollar amount of purchase of suits

Q : Define organizational behavior

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