Cynthia company factored 750 000
WebSynthia Corp. factored $750,000 of accounts receivable to Thomas Company on December 3, year 2. Control was surrendered by Synthia. Thomas accepted the receivables subject to recourse for nonpayment. Thomas assessed a fee of 2% and retains a holdback equal to 4% of the accounts receivable. WebControl was surrendered by Zeus Company. The factor accepted the accounts receivable subject to recourse for nonpayment. The fair value of the recourse obligation is P100,000. The factor assessed a fee of 3% and retained This problem has been solved! You'll get a detailed solution from a subject matter expert that helps you learn core concepts.
Cynthia company factored 750 000
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WebCynthia Company factored 750.docx. Ramon Magsaysay Technological University - Main Campus, Iba, Zambales. ... The company pledged P500,000. Q&A. The inventory on hand at December 31, 2024 for Conrad Company is valued at a cost of P 947,800. The following items were not included in this inventory amount: Purchased goods in transit, shipped … WebFeb 11, 2024 · 0:00 0:02:39. The majority of the world’s internet traffic passes through the town of Ashburn in Loudoun County, Virginia, home to one of the world's major internet …
WebFeb 10, 2024 · Two Virginia Church Leaders Buy $3.2 Million Florida Beach House. Steve Rabey February 10, 2024. Charlie Whitlow, lead pastor of Community Church in … WebCynthia Company factored P750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts receivable subject to recourse for nonpayment. The fair value of the recourse obligation is P20,000. The factor assessed a fee of 2% and retained a holdback equal to 4% of the accounts receivable.
WebThe factor charged 15% commission on all accounts receivable factored and withheld 10% of the accounts factored as protection against customer returns and other adjustments. The entity had previously established an allowance for doubtful accounts of P200, 000 for the accounts Accounts factored. WebQuestion: 1) On April 1 of the current year, Troubled Company factored receivables with a carrying value of $85,000 for $60,000 in cash from Scrooge Lenders. The transfer was made without recourse. On April 1, Troubled would A) Credit deferred interest expense for $25,000 B) Credit factored accounts receivable for $85,000.
WebControl was surrendered by Zeus Company. The factor accepted the accounts receivable subject to recourse for nonpayment. The fair value of the recourse obligation is …
WebProblem 21-5 (AICPA Adapted) Cynthia Company factored P750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts … birthday cake for coffee loverWebSynthia Corp. factored $750,000 of accounts receivable to Thomas Company on December 3, year 2. Control was surrendered by Synthia. Thomas accepted the … birthday cake for car loversbirthday cake for dad from daughterWebJay Company provided the following data relating to accounts receivable for the current year: Accounts receivable, January 1 650,000 Credit sales 2,700,000 Sales return 75,000 Accounts written off 40,000 Collections from customers 2,150,000 Estimated future sales return at December 31 50,000 birthday cake for chef with nameWebOct 24, 2016 · 2. BACKGROUND a. The Generic Inventory Package (GIP) is the current software being utilized for inventory management of stock. b. Details provided in this … birthday cake for daughter in lawWebFairfax County Homepage Fairfax County birthday cake for dancer with nameWebOn December 31, Jordan Inc. received 50,000 on assigned accounts. Prepare Jordans journal entries to record the cash receipt and the payment to McLaughlin. arrow_forward On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to McLaughlin Company for cash. danish camp bedford willington