Yasha Co. sells 400,000 of accounts receivable to a factor and receiving 75% of the value of the factored account less 10% commission. Yasha already establish a doubtful allowance for this receivable at 5% and sales discount of 2%. How much should Yasha received upon the remittance of the factor's holdback, assuming a customer was given a credit of 15,000 for the sales return?

Yasha Co. sells 400,000 of accounts receivable to a factor and receiving 75% of the value of the factored account less 10% commission. Yasha already establish a doubtful allowance for this receivable at 5% and sales discount of 2%. How much should Yasha received upon the remittance of the factor's holdback, assuming a customer was given a credit of 15,000 for the sales return?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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