Assignment Help - homework help

This transaction should be recorded as a sale prepare the


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.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: This transaction should be recorded as a sale prepare the
Reference No:- TGS02561380

Now Priced at $25 (50% Discount)

Recommended (98%)

Rated (4.3/5)