User Account

All Pages

Make the journal entry for Sage to record the sale

Assignment Help Accounting Basics
Reference no: EM132616402

Question - Sage Incorporated factored $134,100 of accounts receivable with Engram Factors Inc. on a with recourse basis. Engram assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 7% of accounts receivable for possible adjustments.

Required - Make the journal entry for Sage to record the sale, assuming that the recourse liability has a fair value of $6,970.

Reference no: EM132616402

Questions Cloud

Discuss two barriers that might hold nursing practice : The Institute of Medicine has stated a goal that 90% of practice be evidence-based by 2020. According to HealthyPeople.gov, the United States is currently.
Identify organization key business initiatives : Select one of your business initiatives, and then brainstorm the key business entities or strategic nouns that impact that selected business initiative
Option to contract be executed with project : Which project should the company selects, and what other factors should be considered while making the decision?
Vote to adopt enact new law : Your state has a forthcoming referendum (a vote to adopt a enact a new law) concerning no smoking in public places including bars and restaurants.
Make the journal entry for Sage to record the sale : Required - Make the journal entry for Sage to record the sale, assuming that the recourse liability has a fair value of $6,970
What are the various micro and macro political risk : What are the various micro and macro political risk that men have to assess before decide to invest in a foreign country?
Define role of technology in improving health care outcomes : Students are required to submit weekly reflective narratives throughout the course that will culminate in a final, course-long reflective journal due in Topic.
Evaluate structures for corporate governance within stress : Evaluate the structures for corporate governance within Stress3 Ltd, recommending any amendments you consider necessary to those structures.
Distributive bargaining not gambling : Distributive Bargaining not Gambling-As a junior congress person you have been asked to help promote a bill to allow casino gambling in your state.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd