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What amount of loss on factoring should be recognized

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On December 1, 2017, Rose Company sold it accounts receivable (net realizable value, 260,000) for cash of 230,000. Ten percent of the proceeds was withheld by the factor to allow for possible customer returns and other account adjustments. The related allowance for bad debts is 40,000.

Problem 1: What amount of loss on factoring should be recognized?

Reference no: EM132864971

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