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What fruits equity in the assigned accounts receivable is

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Question 1: On January 1, Fruit Corp. assigned 500,000 of accounts receivable to the Finance Company in a transaction accounted for as secured borrowing. Fruit gave a 14% note for 450,000 representing 90% of the assigned accounts and received proceeds of 432,000 after a deduction of a 4% fee. On February 1, fruit remitted 80,000 to Bagan, including interest for 1 month on the unpaid balance. Fruit's equity in the assigned accounts receivable after the remittance is

Option a. 68,000

Option b. 44,750

Option c. 50,000

Option d. 62,750

Reference no: EM132524987

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