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3 years ago

E7-16 (Transfer of Receivables with Recourse) Beyoncé Corporation factors $175,000 of accounts receivable

Business

1 answer:

alukav5142 [94]3 years ago

5 0

Answer:

a. Transfer or receivables with recourse should be recorded as a sale only when the following conditions are met:

The future economic benefits of the receivables have been surrendered by the transferor.
The transferor's obligation under the recourse provision can be reasonably estimated.
The transfer can require the transfer to repurchase the receivables.

b. attached as a dcoument of excel.

Explanation:

Entry journal corporation for beyonce Corporation in document attached.

Download xlsx

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