Waterway Industries factors $3000000 of its accounts receivables without recourse for a finance charge of 3%. The finance company retains an amount equal to 7% of the accounts receivable for possible adjustments. Waterway estimates the fair value of the recourse liability at $310000. What would be the debit to Cash in the journal entry to record this transaction?

$2,700,000

Explanation:

The debit to Cash in the journal entry to record this transaction will be calculated as:

= $3,000,000 - [($3,000,000 × 3%) + ($3000000 ×7%)]

= $3,000,000 - ($3,000,000 × 0.03) + ($3000000 × 0.07)

= $3,000,000 - [$90,000 + $210,000]

= $3,000,000 - $300,000

= $2,700,000

Therefore, the debit to cash will be $2,700,000.

what do you mean.why did u repeat the question.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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