Question cinder corp factored with recourse 150000 of, Ask an Expert

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Question: Cinder Corp factored, with recourse, $150,000 of accounts receivable with Greedy Financing. The finance charge is 3%, and 5.5% was retained to cover sales discounts, sales returns, and sales allowances. Cinder estimates the recourse obligation at $1, 750. What amount should Cinder report as a loss on sale of receivables?

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