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10 11 Moving to another question will save the response Question 9 8 points On July 1 Star Company factored $900,000 of accounts receivable with Penancing on a Without recourse basis of the theater collections handle the sales discounts, and who the credit losses. The Financing and since charge of of the total screen allerede equal to 3% of the total receivables to cover sales discounts Required: 3. Prepare the journal entry required on Prett Financing on July 1 b. Assume Star Company factors the $900,000 of accounts receivable with Prett Financing with recourse basis prepare the journal enterpared on Sac book on July 1 For the toolbar, press ALT+F10 ( Por ALTEN. 10 (Mad BIUS Paragraph Times New R. 12pt HE A IX a DOMO Question 12 Moving to another question will save this response > A Moving to another question will save this response. Question 9 On July 1, Star Company factored $900,000 of accounts receivable with Prett Financing on a without recourse basi: collections, handle the sales discounts, and absorb the credit losses. Prett Financing assessed a finance charge of 5% of th equal to 3% of the total receivables to cover sales discounts Required: a. Prepare the journal entry required on Prett Financing on July 1. b. Assume Star Company factors the $900,000 of accounts receivable with Prett Financing on a with recourse book on July 1 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I S Paragraph Arial 10pt EA Question 9 of 12 8 points receivable with Prett Financing on a without recourse basis. Under the arrangement, Prett Financing was to make the it losses Prett Financing assessed a finance charge of 5% of the total accounts receivable factored and retained an amount Save Answer on July 1 unts receivable with Prett Financing on a with recourse basis. Prepare the journal entry required on Star company's 10pt HE . 2 IK % od a 6 RE

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