Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 12 Aug 2017 My Price 3.00

Cammo Company

Cammo Company sold receivables (without recourse) for $53,000. Cammo received $50,000 cash immediately from the factor (the company to whom the receivables were sold). The remaining $3,000 will be received once the factor verifies that none of the receivables is in dispute. The receivables had a face amount of $60,000; Cammo had previously established an Allowance for Bad Debts of $2,500 in connection with these receivables. Make the journal entry necessary on Cammo’s books to record the sale of these receivables.

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 05:08 PM My Price 3.00

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