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Compute the amount of cash that mm will receive

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McDowell's Moolah (MM) decided to sell $226,000 of accounts receivable to Foolish Factors, without recourse, for a fee of 6%. Foolish Factors will withhold  2% additional for possible adjustments, of which MM expects to recover 75%. (Assume that the disposition of receivables satisfies the conditions to be treated  as a sale.)

Question (a) Compute the amount of cash that MM will receive related to this sale of receivables.

Question (b) Compute the amount of loss that MM will recognize related to this sale.

Question (c) Show all parts of how this sale would be recorded by MM.

Reference no: EM132627754

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