CourseLover

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  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

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    NatSteel Holdings Pte Ltd
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Category > Business & Finance Posted 10 Dec 2017 My Price 10.00

Synthia’s cost of factoring

Synthia Corp. factored $750,000 of accounts receivable to Thomas Company on December 3, year 2. Control was surrendered by Synthia. Thomas accepted the receivables subject to recourse for nonpayment. Thomas assessed a fee of 2% and retains a hold back equal to 4% of the accounts receivable. In addition, Thomas charged 12% interest computed on a weighted-average time to maturity of the receivables of fifty-one days. The fair value of the recourse obligation is $15,000. Assuming all receivables are collected, what would be Synthia’s cost of factoring the receivables?

Answers

CourseLover
(12)
Status NEW Posted 10 Dec 2017 02:12 PM My Price 10.00

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