Which of the Following Would Occur If a Company Factored

question 74

Multiple Choice

Which of the following would occur if a company factored $2,500,000 of receivables with a 2% fee?

• A) a $2,450,000 credit to cash
• B) a $50,000 debit to factoring fee expense
• C) a $2,500,000 debit to accounts receivable
• D) a $50,000 debit to factoring fee receivable

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Specialized skill or knowledge in a particular field or domain, acquired through experience or education.