Cynthia company factored 750 000
WebProblem Solving. Hail Chloe Company factored P750,000 of accounts receivable at year-end. Control was surrendered. Thefactor accepted … WebCynthia Company factored P750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts receivable subject to recourse for …
Cynthia company factored 750 000
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WebJay Company provided the following data relating to accounts receivable for the current year: Accounts receivable, January 1 650,000 Credit sales 2,700,000 Sales return 75,000 Accounts written off 40,000 Collections from customers 2,150,000 Estimated future sales return at December 31 50,000 WebOn December 31, Jordan Inc. received 50,000 on assigned accounts. Prepare Jordans journal entries to record the cash receipt and the payment to McLaughlin. arrow_forward On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to McLaughlin Company for cash.
WebPaisley Corporation sells $75,000 of receivables to a factor without recourse, receives 95% of the value of the factored accounts, and is charged a 10% commission based on the gross amount of the factored receivables. What journal entry does Paisley record for the sale? Cash 63,750 Receivable from Factor3,750 Factoring Expense7,500 WebView full document. Cynthia Company factored 750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts receivable subject to …
WebSynthia Corp. factored $750,000 of accounts receivable to Thomas Company on December 3, year 2. Control was surrendered by Synthia. Thomas accepted the … WebMazda company sold P5,800,000 in accounts receivable for cash of P5,000,000. The factor withheld 10% of the cash proceeds to allow for possible customer returns and …
WebOct 24, 2016 · 2. BACKGROUND a. The Generic Inventory Package (GIP) is the current software being utilized for inventory management of stock. b. Details provided in this …
WebOn December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to McLaughlin Company for cash. McLaughlin Company charges a 750 service fee, … ravpower 100w chargerWebBusiness Accounting Ray Company factored 6,000,000 of accounts receivable to a finance entity on October 1, 2024. Control was surrendered by Ray Company. The factor assessed a fee of 3% and retains a holdback equal to 5% of the accounts receivable. simple butterfly tattooWebFeb 11, 2024 · 0:00 0:02:39. The majority of the world’s internet traffic passes through the town of Ashburn in Loudoun County, Virginia, home to one of the world's major internet … ravpower 16750mah portable chargerWebThe factor charged 15% commission on all accounts receivable factored and withheld 10% of the accounts factored as protection against customer returns and other adjustments. The entity had previously established an allowance for doubtful accounts of P200, 000 for the accounts Accounts factored. simple butterfly colouring sheetsWebControl was surrendered by Zeus Company. The factor accepted the accounts receivable subject to recourse for nonpayment. The fair value of the recourse obligation is … simple butterfly tattoo ideasWebQuestion: 1) On April 1 of the current year, Troubled Company factored receivables with a carrying value of $85,000 for $60,000 in cash from Scrooge Lenders. The transfer was made without recourse. On April 1, Troubled would A) Credit deferred interest expense for $25,000 B) Credit factored accounts receivable for $85,000. rav pflichtinformationsimple butterfly tattoo images