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Maxwell Corporation factored, with recourse, $400,000 of accounts receivable with Huskie Financing. The finance charge...

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Accounting

Maxwell Corporation factored, with recourse, $400,000 of accounts receivable with Huskie Financing. The finance charge is 3%, and 5% was retained to cover sales discounts, sales returns, and sales allowances. What amount of cash would Wiley receive on the sale of receivables?

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