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Under ___________________ a Factor Pays the Firm for Its Receivables

question 79

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Under ___________________ a factor pays the firm for its receivables before the account due date.


Definitions:

Posting

The process of recording financial transactions in the accounting books, such as a ledger or journal.

Source Documents

Original records that contain the details necessary to support the transactions entered in an accounting system, such as invoices, receipts, or contracts.

Ledger

A ledger is a comprehensive collection of a company's financial transactions, organized by account, during an accounting period.

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