Lacuna Inc. factors $12,000,000 of its accounts receivables with recourse for a finance charge of 3%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Lacuna estimates the fair value of the recourse liability at $600,000. What would be recorded as a loss on the transfer of receivables
+3
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Lacuna Inc. factors $12,000,000 of its accounts receivables with recourse for a finance charge of 3%. The finance company retains an amount ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Home » Business » Lacuna Inc. factors $12,000,000 of its accounts receivables with recourse for a finance charge of 3%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments.