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Haleyharris1 Haleyharris1
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Danzig Inc. factors $6,000,000 of its accounts receivables without recourse for a finance charge of 4%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. What would be recorded by Danzig as a gain (loss) on the transfer of receivables?
A) gain of $240,000
B) loss of $240,000
C) loss of $600,000
D) loss of $840,000
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Intermediate Accounting

Intermediate Accounting


Edition: 1st
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Strider4206Strider4206
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Haleyharris1 Author
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5 years ago
I'm still confused, but thanks for answering correctly
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