Trell Corporation transferred $53,000 of accounts receivable to a local bank. The transfer was made without recourse. The local bank remits 80% of the factored amount to Trell and retains the remaining 20%. When the bank collects the receivables, it will remit to Trell the retained amount less a fee equal to 3% of the total amount factored. Trell estimates a fair value of its 20% interest in the receivables of $9,500 (not including the 3% fee). Trell will show an amount receivable from factor of:

$7,910

Explanation:

According to the scenario, computation of the given data are as follow:-

Estimates fair value of 20% in the receivables = $9,500

Factoring fees = transferred amount × percent of the total amount factored   = $53,000 × 3%

=$1,590

Amount receivables from factor is

= Estimates fair value of 20% in the receivables - Factoring fees

= $9,500 - $1,590

= $7,910

According to the analysis, Amount receivables from factor are $7,910.  

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