fatin syafiqa
Jan 29, 2010, 05:22 AM
Accounts receivable of $12000 (gross) are factored with Rothchild Credit Corp. without recourse at a financing charge of 9%.Cash is received for the proceeds; collections are handled by the financing company. (These accounts were all past the discount period).
Prepare the necessary entries in general journal).
Prepare the necessary entries in general journal).