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What amount should Waterway report as a loss on sale

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Question - Waterway Corporation factored, with recourse, $496000 of accounts receivable with Bramble Financing. The finance charge is 4%, and 6% was retained to cover sales discounts, sales returns, and sales allowances. Waterway estimates the recourse obligation at $11700. What amount should Waterway report as a loss on sale of receivables?

Reference no: EM132504706

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