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P7-8 Factoring of accounts receivable; without recourse • L07-8 Samson Wholesale Beverage Company regularly factors its...
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April...
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2018, the company transferred $860,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 3% fee (3% of the total factored amount). Samson estimates the fair value of the last 10% of its receivables to be $66,000....
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April...
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2021, the company transferred $810,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 5% fee (5% of the total factored amount). Samson estimates the fair value of the last 10% of its receivables to be $61,000....
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April...
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2021, the company transferred $860,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 3% fee (3% of the total factored amount). Samson estimates the fair value of the last 10% of its receivables to be $66,000....
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April...
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2021, the company transferred $950,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 4% fee (4% of the total factored amount). Samson estimates the fair value of the last 10% of its receivables to be $75,000....
Please show all calculations (if any) and explain your reasoning. Thank you! P 7-8 Factoring of...
Please show all calculations (if any) and explain your reasoning.
Thank you!
P 7-8 Factoring of accounts receivable; without recourse • LO7-8 Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Com- pany. On April 30, 2021, the company transferred $800,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collect receivables, it remits to Samson the retained amount less a 4%...
Samson Wholesale everage Company regularly factors its accounts receivable with the Milpitas Finance Company. On A...
Samson Wholesale everage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2018, the company transf red $920,0 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 85% of the factored amount nd retains 1 When Milpitas collects the receivables, it remits to Samson the retained amount less a 2% fee (2% of the total factor amount) mson estimates the fair value of the last 15% of its receivables to be...
Question ห(of 5) 10.00 points Samson Wholesale Beverage Company regularly factors its accounts receivable with the...
Question ห(of 5) 10.00 points Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2016, the company transferred $900,000 of accounts receivable to Milpitas. The transfer was made without recourse Milpitas remits 85% of the tactored amount and retans 15%, when Milpitas collects the recevables. it remits to Samson the retained amount less a 2% fee (2% of the total factored amount). Samson estimates the far value or the last 15% of...
help chapter 7 accounting homework!! jork Saved Help Save & Exit Submi Check my work Samson...
help chapter 7 accounting homework!!
jork Saved Help Save & Exit Submi Check my work Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2021, the company transferred $890,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 4% fee (4% of the total factored amount)....
BE 7-19 Factoring of accounts receivable Q107-8 Logitech Corporation transferred $100,000 of accounts receivable to a l...
BE 7-19 Factoring of accounts receivable Q107-8 Logitech Corporation transferred $100,000 of accounts receivable to a local bank. The transfer was made without recourse. The local bank remits 85% of the factored amount to Logitech and retains the remaining 15%. When the bank collects the receivables, it will remit to Logitech the retained amount less a fee equal to 3% of the total amount factored. Logitech estimates a fair value of its 15% interest in the receivables of $11,000 (not...
Mountain High Ice Cream Company transferred $78,000 of accounts receivable to the Prudential Bank. The transfer...
Mountain High Ice Cream Company transferred $78,000 of accounts receivable to the Prudential Bank. The transfer was made with recourse. Prudential remits 90% of the factored amount to Mountain High and retains 10% to cover sales returns and allowances. When the bank collects the receivables, it will remit to Mountain High the retained amount (which Mountain estimates has a fair value of $6,800). Mountain High anticipates a $4,800 recourse obligation. The bank charges a 2% fee (2% of $78,000), and...
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2021, the company transferred $860,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 3% fee (3% of the total factored amount). Samson estimates the fair value of the last 10% of its receivables to be $66,000....
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2021, the company transferred $950,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 4% fee (4% of the total factored amount). Samson estimates the fair value of the last 10% of its receivables to be $75,000....
Please show all calculations (if any) and explain your reasoning.
Thank you!
P 7-8 Factoring of accounts receivable; without recourse • LO7-8 Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Com- pany. On April 30, 2021, the company transferred $800,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collect receivables, it remits to Samson the retained amount less a 4%...
Samson Wholesale everage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2018, the company transf red $920,0 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 85% of the factored amount nd retains 1 When Milpitas collects the receivables, it remits to Samson the retained amount less a 2% fee (2% of the total factor amount) mson estimates the fair value of the last 15% of its receivables to be...
Question ห(of 5) 10.00 points Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2016, the company transferred $900,000 of accounts receivable to Milpitas. The transfer was made without recourse Milpitas remits 85% of the tactored amount and retans 15%, when Milpitas collects the recevables. it remits to Samson the retained amount less a 2% fee (2% of the total factored amount). Samson estimates the far value or the last 15% of...
help chapter 7 accounting homework!!
jork Saved Help Save & Exit Submi Check my work Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2021, the company transferred $890,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 4% fee (4% of the total factored amount)....
BE 7-19 Factoring of accounts receivable Q107-8 Logitech Corporation transferred $100,000 of accounts receivable to a local bank. The transfer was made without recourse. The local bank remits 85% of the factored amount to Logitech and retains the remaining 15%. When the bank collects the receivables, it will remit to Logitech the retained amount less a fee equal to 3% of the total amount factored. Logitech estimates a fair value of its 15% interest in the receivables of $11,000 (not...
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