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A company sells $800,000 of accounts receivable to a factor for cash less a 2%...

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Accounting

A company sells $800,000 of accounts receivable to a factor for cash less a 2% service charge. As a result of this transaction, which of the following statements is FALSE? The company's net assets will decrease. The company's gross profit margin will decrease. The company's current ratio will decrease. The company's net operating income will decrease

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