Solution-What would be recorded as loss on the transfer of

What would be recorded as loss on the transfer of receivable

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Reference no: EM132715746

Problem 1: Sun Inc. factors $6,000,000 of its accounts receivables with recourse for a finance charge of 5%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Sun estimates the fair value of the recourse liability at $230,000. What would be recorded as a gain (loss) on the transfer of receivables?

Select one:

a. Loss of $830,000
b. Loss of $530,000
c. Loss of $900,000
d. Loss of $230,000.
e. Loss of $600.000
f. Loss of $1,130,000.
g. Loss of $300,000

Reference no: EM132715746

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What would be recorded as loss on the transfer of receivable

Reference no: EM132715746

Reference no: EM132715746

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