Question

Factoring Blair Finance factors the accounts of the Holder Company. All eight factored accounts are shown in the following table, with the amount factored, the date due, and the status on May 30. Indicate the amounts that Blair should have remitted to Holder as of May 30 and the dates of those remittances. Assume that the factor's commission of 3% is deducted as part of determining the amount of the remittance. As of May 30, what amount should Blair have remitted for Account A and on what date should remittance have occurred? (Round to the nearest dollar and select from the drop-down menus.) Amount remitted Date remitted Month Date Account Amount $200,000 B $89,408 C $104,589 $81,471 $128,439 F $174,150 $94.777 H $27 974 $27,974 Date due Status on May 30 May 30 Collected May 25 May 30 Uncollected May 30 Uncollected June 20 Collected May 30 May 30 Collected May 23 June 15 Collected May 30 May 16 Uncollected June 27 Collected May 30 0000000 Enter your answer in each of the

Answer 1

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Account Amount Remitted $ 194,000 Date Remitted Month Date May 95 May 30 May 30 30 Amount $200.000 $ 89,408 $104,589 $81,471 $ 128,439 $ 174,150 $ 94,777 $ 27,974 Mos ca uo cul 4 o I $ 79,027 $ 124,586 $ 168,926 May May May may $ 27,135