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Question - Bonita Woodcrafters sells $224,200 of receivables to Commercial Factors, Inc. on a with recourse basis. Commercial assesses a finance charge of 7% and retains an amount equal to 6% of accounts receivable. Bonita estimates that the recourse liability has a fair value of $4,870 instead of $9,740 estimated earlier.
Prepare the journal entry for Bonita to record the sale.
Discuss recommendations you would make to chief financial officers (CFOs) of retailers, service providers, and other businesses that lease several locations or have substantial leases of real estate or other assets. Indicate the pros and cons of each..
pay the employees. write one check payable to the payroll account.not sure what to do for this one or what the payroll
The mayor of New West Norwalk wants to simplify the accounting system used by the town. He approached you with the following task.
Which investment would you recommend and why? Research on the current trends and future prospects on each of the industries and include a summary
Determine the amount of the taxable gift, if any, for Tina.
Indicate whether each of the following activities would be reported on the statement of cash flows as (a) an operating activity, (b) an investing activity, or (c) a financing activity:
What is the amount of long-term liabilities
The Playa Company uses a periodic inventory system. The following information is taken from Playa's records. Certain data have been intentionally omitted. ($ in thousands)
royer corporation engaged in this transaction retired long-term debt with cash.indicate which section if any the above
On December 31, 2012, Dow Steel Corporation had 600,000 shares of common stock and 300,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding.
Apr. 1 Issued 25,000 shares of common stock for land. The asking price of the land was $90,000. The company's estimate of fair market value of the land was $75,000.
entity a operates outsourced call centers for retail and manufacturing companies. it is compensated through fixed
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