Cynthia company factored 750 000
WebMazda company sold P5,800,000 in accounts receivable for cash of P5,000,000. The factor withheld 10% of the cash proceeds to allow for possible customer returns and …
Cynthia company factored 750 000
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WebCynthia Company factored P750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts receivable subject to recourse for nonpayment. The fair value of the recourse obligation is P20,000. The factor assessed a fee of 2% and retained a holdback equal to 4% of the accounts receivable. WebCynthia Company factored P750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts receivable subject to recourse for …
WebOn December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to McLaughlin Company for cash. McLaughlin Company charges a 750 service fee, … WebSynthia Corp. factored $750,000 of accounts receivable to Thomas Company on December 3, year 2. Control was surrendered by Synthia. Thomas accepted the …
WebOn December 31, Jordan Inc. received 50,000 on assigned accounts. Prepare Jordans journal entries to record the cash receipt and the payment to McLaughlin. arrow_forward On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to McLaughlin Company for cash. WebFeb 10, 2024 · Two Virginia Church Leaders Buy $3.2 Million Florida Beach House. Steve Rabey February 10, 2024. Charlie Whitlow, lead pastor of Community Church in …
WebFeb 11, 2024 · 0:00 0:02:39. The majority of the world’s internet traffic passes through the town of Ashburn in Loudoun County, Virginia, home to one of the world's major internet …
WebQuestion: 1) On April 1 of the current year, Troubled Company factored receivables with a carrying value of $85,000 for $60,000 in cash from Scrooge Lenders. The transfer was made without recourse. On April 1, Troubled would A) Credit deferred interest expense for $25,000 B) Credit factored accounts receivable for $85,000. chrysalis purple butterfly bushWebOn June 30, Purple Company factored P200,000 of its accounts receivable to a finance company. The finance company charged a factoring fee of 5% of the accounts factored and withheld 20% of the amount factored. ... P3,700,685 c. P3,750, b. P3,700,000 d. P4,700, Assuming all receivables are collected, Binalonan Company’s cost of factoring … chrysalis rail long marstonWebThe factor charged 15% commission on all accounts receivable factored and withheld 10% of the accounts factored as protection against customer returns and other adjustments. The entity had previously established an allowance for doubtful accounts of P200, 000 for the accounts Accounts factored. derriford hospital midwife bookingWebPaisley Corporation sells $75,000 of receivables to a factor without recourse, receives 95% of the value of the factored accounts, and is charged a 10% commission based on the gross amount of the factored receivables. What journal entry does Paisley record for the sale? Cash 63,750 Receivable from Factor3,750 Factoring Expense7,500 chrysalis rail landoreWebOct 24, 2016 · 2. BACKGROUND a. The Generic Inventory Package (GIP) is the current software being utilized for inventory management of stock. b. Details provided in this … derriford hospital plymouth haematologyWebProblem 21-5 (AICPA Adapted) Cynthia Company factored P750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts … derriford hospital physio self referral formWebCynthia Company factored 750.docx. Ramon Magsaysay Technological University - Main Campus, Iba, Zambales. ... The company pledged P500,000. Q&A. The inventory on hand at December 31, 2024 for Conrad Company is valued at a cost of P 947,800. The following items were not included in this inventory amount: Purchased goods in transit, shipped … chrysalis rail services