Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 4.00

face value

1. XYZ Company sells a group of its receivables without recourse to a factor. The face value of the sold receivables is $250,000. XYZ Company had already recorded an allowance for bad debt against the receivables in the amount of 5%. The factor will charge 21% per annum interest on the receivables, and the WAVG number of days to maturity of the sold receivables is 32 days. The factorAf?cA????1A????1s fee in addition to the interest is 7%. The factor will hold back 6% of the receivablesAf?cA????1A????1 face value to cover any merchandise returns.

 

The amount received by XYZ Company on the date of the sale is?

Xyx

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Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 10:08 PM My Price 4.00

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