(Answered) Question - transfer of receivables with recoursebryant inc

Accounting

Question - Transfer of Receivables with Recourse

Bryant Inc. factors receivables with a carrying amount of $200,000 to Warren Company for $190,000 on a with recourse basis.

The recourse provision has a fair value of $2,000. This transaction should be recorded as a sale. Prepare the appropriate journal entry to record this transaction on the books of Bryant Inc.

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