Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. marigold furniture factors $520000 of receivables

Marigold Furniture factors $520000 of receivables to Bramble Factors, Inc. Bramble Factors assesses a 4%...

50.1K

Verified Solution

Question

Accounting

Marigold Furniture factors $520000 of receivables to Bramble Factors, Inc. Bramble Factors assesses a 4% service charge on the amount of receivables sold. Marigold Furniture factors its receivables regularly with Bramble Factors. What journal entry doesMarigold make when factoring these receivables?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Farmer's Corporation made a report that the mean annual household income of its readers is $119,155...

Statistics
Q

Which one of the following would Ferdowsian and Hope (2011) most likely reject? A) the three R’s...

Biology
Q

The gravitational force the Sun exerts on EarthA. is always repulsive.B. is equal in magnitude...

Physics
Q

Hospital emergency rooms ERS have a bad reputation for long wait times To improve their...

Statistics
Q

Determine the graph of the cylinder x y 36 Choose the correct graph of the...

Calculus
Q

Complete this question by entering your answers in the tabs below. Prepare the necessary journal...

Accounting
Q

Task 1 The following is summary data in the ledger of XYZ Limited on November...

Accounting
Q

On January 1 of Year 1, Ashe Company entered into a ve-year equipment lease (with...

Accounting
Q

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash...

Accounting
Q

Do you think the IRS should allow anyone the capability to file taxes on behalf...

Accounting
Q

Assume you are employed as the chief financial officer of a corporation and are responsible...

Accounting
Q

1. ...

Accounting