subject
Business, 08.11.2019 01:31 IsaacRodriguez245

Vaughn corporation factors $275,100 of accounts receivable with kathleen battle financing, inc. on a with recourse basis. kathleen battle financing will collect the receivables. the receivables records are transferred to kathleen battle financing on august 15, 2020. kathleen battle financing assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments.

assume that the conditions are met for a transfer of receivables with recourse to be accounted for as a sale. prepare the journal entry on august 15, 2020, for vaughn to record the sale of receivables, assuming the recourse obligation has a fair value of $3,670. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 18:30
Prior to june 30, a company has never had any treasury stock transactions. a company repurchased 160 shares of its $1 par common stock on june 30 for $46 per share. on july 20, it reissued 80 of these shares at $52 per share. on august 1, it reissued 38 of the shares at $44 per share. what is the journal entry necessary to record the reissuance of treasury stock on august 1 using the cost method?
Answers: 3
question
Business, 22.06.2019 09:30
The 39 percent and 38 percent tax rates both represent what is called a tax "bubble." suppose the government wanted to lower the upper threshold of the 39 percent marginal tax bracket from $335,000 to $208,000. what would the new 39 percent bubble rate have to be? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places,e.g., 32.16.)
Answers: 3
question
Business, 22.06.2019 18:30
Order these statements in the correct order to fill in the central idea and key points for a chronological speech. question 22 options: there are several steps that someone must take to become a doctor. finally, you will need to get a medical license, and become board certified in your specialty area. then, you must get admitted into to medical school and earn a medical degree. next, you will need to complete a residency. first you must earn a bachelors degree.
Answers: 2
question
Business, 22.06.2019 21:50
Required: 1-a. the marketing manager argues that a $5,000 increase in the monthly advertising budget would increase monthly sales by $9,000. calculate the increase or decrease in net operating income. 1-b. should the advertising budget be increased ? yes no hintsreferencesebook & resources hint #1 check my work 8.value: 1.00 pointsrequired information 2-a. refer to the original data. management is considering using higher-quality components that would increase the variable expense by $2 per unit. the marketing manager believes that the higher-quality product would increase sales by 10% per month. calculate the change in total contribution margin. 2-b. should the higher-quality components be used? yes no
Answers: 1
You know the right answer?
Vaughn corporation factors $275,100 of accounts receivable with kathleen battle financing, inc. on a...
Questions
question
English, 02.02.2021 18:10
question
Mathematics, 02.02.2021 18:10
question
Mathematics, 02.02.2021 18:10
question
Mathematics, 02.02.2021 18:10
Questions on the website: 12807294