Business, 24.10.2019 02:30 abigailweeks10
Trell corporation transferred $58,000 of accounts receivable to a local bank. the transfer was made without recourse. the local bank remits 60% of the factored amount to trell and retains the remaining 40%. when the bank collects the receivables, it will remit to trell the retained amount less a fee equal to 1% of the total amount factored. trell estimates a fair value of its 15% interest in the receivables of $12,000 (not including the 1% fee). trell will show an amount receivable from factor of:
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Trell corporation transferred $58,000 of accounts receivable to a local bank. the transfer was made...
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