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Home Q & A Board Other Fields Homework Help Business Accounting
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nuttyprof nuttyprof
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5 years ago
Ming Company assigns $5,000,000 of its accounts receivables for a finance charge of 5%. The finance company retains an amount equal to 8% of the accounts receivable for possible adjustments. What amount of cash would Ming receive as a result of this initial transaction?
A) $4,750,000
B) $4,600,000
C) $4,350,000
D) $5,000,000
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
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karissamkarissam
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5 years ago
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nuttyprof Author
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#2
5 years ago
Exactly what I needed for my quiz Smiling Face with Open Mouth
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