A firm sells 123500 of its accounts receivable to factors, Ask an Expert

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A firm sells $123,500 of its accounts receivable to factors at a 1 percent discount. The firm’s average collection period is one month. What is the dollar cost of the factoring service? (Round answer to nearest whole dollar, e.g. 5,275.)

The dollar cost of the factoring service fee is $ _____________

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Financial Management, Finance

Category:- Financial Management
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