Tilly Corp. factored accounts receivable that had a book value of $100,000 to Second Bank. The transfer was made with recourse. Second Bank charged a 5% factoring fee and retained $3,000 to provide a reserve against potential sales returns and allowances. Tilly estimates the amount of accounts receivable that will be uncollectible is $2,000. The journal entry Tilly will make to record the factoring arrangement will include a: a. credit to receivable from factor for $5,000.
b. debit to loss on sale of receivables for $10,000.
c. credit to recourse liability for $2,000.
d. credit to accounts receivable for $92,000.

Bond x is noncallable and has 20 years to maturity, a 7% annual coupon, and a $1,000 par value. your required return on bond x is 10%; if you buy it, you plan to hold it for 5 years. you (and the market) have expectations that in 5 years, the yield to maturity on a 15-year bond with similar risk will be 9.5%. how much should you be willing to pay for bond x today? (hint: you will need to know how much the bond will be worth at the end of 5 years.) do not round intermediate calculations. round your answer to the nearest cent.

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr