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Business, 30.07.2020 06:01 Weaj01

Bramble Woodcrafters sells $202,300 of receivables to Commercial Factors, Inc. on a with recourse basis. Commercial assesses a finance charge of 5% and retains an amount equal to 4% of accounts receivable. Bramble estimates the fair value of the recourse liability to be $8,710. Prepare the journal entry for Bramble to record the sale.

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Bramble Woodcrafters sells $202,300 of receivables to Commercial Factors, Inc. on a with recourse ba...
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