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Business, 29.03.2021 22:20 anyawebb06

Marin is planning to factor some accounts receivable at the end of the year. Accounts totaling $13,900 will be transferred to Credit Factors, Inc. with recourse. Credit Factors will retain 6% of the balances for probable adjustments and assesses a finance charge of 5%. The fair value of the recourse obligation is $1,075. New attempt is in progress. Some of the new entries may impact the last attempt grading. Your answer is partially correct. Prepare the journal entry to record the sale of the receivables

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Marin is planning to factor some accounts receivable at the end of the year. Accounts totaling $13,9...
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