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uegent very fast Question 5 Dowe, 2019, XYZ Compuy factored recevables...

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Accounting

uegent very fast
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Question 5 Dowe, 2019, XYZ Compuy factored recevables of $700,000 to ABC Com ABC Company es ce charge of 15 of the recentes and of the recentes Amt XYZ.Cum factors the recervables on a without guarantee (without recourse) basis. The journal entry to be recorded by XYZ company OA Cash 6650 Les of the 7,000 Due from factor 28000 Accounts receivable 700.000 Accuevable 700.000 Tv 35.000 Cash 66000 OC Accorvalde 700.000 Interest reves 7000 Du to customer 28.000 Cash 665.000 OD Cash 665.000 Finance care 7.000 Due from factor 78,000 Recourse liability 700.000

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