subject
Business, 23.04.2021 03:20 winterblanco

Jervis sells $3,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 4% factoring fee. What entry should Jervis make to record the transaction? Multiple Choice Debit Cash $2,880; debit Factoring Fee Expense $120; credit Accounts Receivable $3,000 Debit Accounts Receivable $2,880; debit Factoring Fee Expense $120; credit Cash $3,000. Debit Cash $3,000; credit Factoring Fee Expense $120; credit Accounts Receivable $3,000 Debit Cash $2,880; credit Accounts Receivable $2,880 Debit Accounts Receivable $3,000; credit Factoring Fee Expense $120; credit Cash $2,880

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 13:30
The outstanding bonds of the purple fiddle are priced at $898 and mature in nine years. these bonds have a 6 percent coupon and pay interest annually. the firm's tax rate is 35 percent. what is the firm's after tax cost of debt?
Answers: 3
question
Business, 21.06.2019 14:40
The owners of spokes bicycle shop worry that cash flow this winter may be insufficient to meet the current operating expenses. while they anticipate a surplus of cash inflow as warm weather approaches, they need funds now to meet the company's immediate obligations. the owners can best resolve cash flow concerns by obtaining financing.
Answers: 3
question
Business, 22.06.2019 02:50
Wren pork company uses the value basis of allocating joint costs in its production of pork products. relevant information for the current period follows: product pounds price/lb. loin chops 3,000 $ 5.00 ground 10,000 2.00 ribs 4,000 4.75 bacon 6,000 3.50 the total joint cost for the current period was $43,000. how much of this cost should wren pork allocate to loin chops?
Answers: 1
question
Business, 23.06.2019 12:30
"richard wants to know how his company handles late lunches but does not want to ask anyone. instead, he watches others take late lunches and observes the manager's reaction. richard is"
Answers: 3
You know the right answer?
Jervis sells $3,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. N...
Questions
question
History, 10.04.2020 18:14
question
Mathematics, 10.04.2020 18:15
question
Mathematics, 10.04.2020 18:15
Questions on the website: 13722360