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What amount of cash was received on the sale of accounts

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Reference no: EM132913399

Lesley Company factored with recourse P2,000,000 of accounts receivable with a bank. The finance charge is 3%, and 5% was retained to cover sales discounts, sales returns and sales allowances.

Question 1: What amount of cash was received on the sale of accounts receivable?

Reference no: EM132913399

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