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September 22, 2014

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

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