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What is the total loss to be recorded by Dallas Incorporated

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Problem - Dallas factored $150,000 of accounts receivable with Fort Worth Factors on a with recourse basis. Fort Worth assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for possible adjustments. What is the total loss to be recorded by Dallas Incorporated, assuming that the recourse liability has a fair value of $7,500?

Reference no: EM132937718

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