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Prepare appropriate journal entry to record this transaction

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Question - Indigo Inc. factors receivables with a carrying amount of $244,100 to Joffrey Company for $173,600 on a with recourse basis. The recourse provision has a fair value of $2,070. This transaction should be recorded as a sale. Prepare the appropriate journal entry to record this transaction on the books of Indigo Inc.

Reference no: EM133038279

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