Business, 09.04.2021 04:30 jordynmcgee123

At the end of June, the Marquess Company factored $200,000 in accounts receivable with Homemark Finance. Homemark immediately remitted to Marquess cash equal to 90% of the factored amount. Factor will remit the excess to Marquess, an the remaining receivables has the estimated fair value of $15,000. The transfer is made without recourse. Homemark charges a fee of 3% of receivables factored. What amount of loss on sale of receivables would Marquess record in June? a. $6,000.
b. $4.500.
c. $1,500.
d. $0.

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At the end of June, the Marquess Company factored $200,000 in accounts receivable with Homemark Fina...

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