Homework Help: Immediate accounting

Posted by Eleen on Wednesday, February 29, 2012 at 1:14pm.

On June 1 2009, ABC sold an accounts receivable in the amount of $200,000 to XYZ bank for $190,000. The sale is "with recourse". ABC estimates that the fair value of the recourse obligation is $12,000. Provide the journal entry for the sale of the receivable in hte books of ABC

No one has answered this question yet.

Answer this Question

Related Questions

accounting - Exercise 9-13: Accounts receivable turnover L.O. A1 The following ...
accounting - The following financial data were taken from the annual financial ...
accounting - P9-4A (a-d) Wall Inc. uses the allowance method to estimate ...
Accounting - Accounts receivable in the amount of 250,000 were assigned to the ...
accounting - XYZ's receivables turnover is 10x. The accounts receivable at ...
ACC - Smithson Corporation had a 1/1/10 balance in the Allowance for Doubtful ...
Account - Oral Corporation's beginning accounts receivable were $200,000 and...
Account - Really need help! - Oral Corporation's beginning accounts ...
Finance - Calculate the accounts receivable period, accounts payable period, ...
accounting - I was given gross accounts receivable $15,200,000 and $17,600,000 ...

For Further Reading

First Name:
School Subject:
Answer: