1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Shtirlitz [24]
3 years ago
6

Scarbrough Corp. factored $600,000 of accounts receivable to Duff Corp. on October 1, year 2. Control was surrendered by Scarbro

ugh. Duff accepted the receivables subject to recourse for nonpayment. Duff assessed a fee of 3% and retains a holdback equal to 5% of the accounts receivable. In addition, Duff charged 15% interest computed on a weighted-average time to maturity of the receivables of fifty-four days. The fair value of the recourse obligation is $9,000. Scarbrough will receive and record cash of
Business
1 answer:
skelet666 [1.2K]3 years ago
7 0

Answer:

$538,685

Explanation:

Calculation to determine what Scarbrough will receive and record cash of

Receivables $600,000

Less: Amount of the hold back ($30,000)

($600,000 x 5%)

Less: Withheld as fee income ($18,000)

($600,000 x 3%)

Less: Withheld as interest expense ($13,315)

($600,000 × 15% × 54/365)

Cash $538,685

($600,000-$30,000-$18,000-$13,315)

Therefore Scarbrough will receive and record cash of $538,685

You might be interested in
Describe the difference between cost of goods and operating expenses.
MrRissso [65]

Both operating expenses and cost of goods sold (COGS) are expenditures that companies incur with running their business. However, the expenses are segregated on the income statement. Operating expenses and COGS measure different ways in which resources are spent in the process of running a company.

8 0
3 years ago
A house in the neighborhood has been well maintained. The seller has made sure that all the electrical systems are working to co
Greeley [361]

Answer:

utility power

Explanation:

In simple words, the location of the house has been said to be in a prominent region, it gives the house a competitive advantage over other units, also the house has been maintained and restructured bu the seller so that it looks more good and healthy.

The subject unit has been restructured in a way that it satisfied all the needs of the buyer, thus, it brings a lot of utility power to the market in respect of its value.

6 0
3 years ago
In 2009, the imaginary nation of Viloxia had a population of 5,000 and real GDP of 500,000. In 2010 it had a population of 5,100
Rashid [163]

The correct answer is A. During 2009 real GDP in Viloxia grew by 2 percent, which is about the same as average U.S. growth over the last one-hundred years.

Given that in 2009, the imaginary nation of Viloxia had a population of 5,000 and real GDP of 500,000, and in 2010 it had a population of 5,100 and real GDP of 520,200, to determine the growth of real GDP in Viloxia during 2009, the the following calculations must be made:

  • Total GDP / population = real GDP
  • 500,000 / 5000 = X
  • 100 = X
  • 520,200 / 5100 = X
  • 102 = X
  • 102 - 100 = 2

Therefore, during 2009 Viloxia's GDP grew by 2 percent, which is about the same as average U.S. growth over the last one-hundred years.

Learn more in brainly.com/question/4131508

6 0
3 years ago
Nonverbal communication is often referred to as body language.<br><br> True<br> False
Paraphin [41]

True!

Why?

Well, non-verbal communication is talking, but without words. It includes of body language, think of sign language, you use your hands. :)

Please award brainliest if I helped you, if not........ oh, well.

Stay happy

4 0
3 years ago
Read 2 more answers
Lists jobs that are hiring now for 16+ at the bell air mall
valentina_108 [34]
Idk sorry wish I did tho
8 0
3 years ago
Other questions:
  • Tyrell has a bankruptcy on his credit report and therefore pays higher interest rates on his current loans. He calculates that t
    5·1 answer
  • Supply curves tend to be
    12·1 answer
  • Determination of Retained Earnings and Net Income The following information appears in the records of Bock Corporation at the en
    5·1 answer
  • Barnes Enterprises has bonds on the market making annual payments, with 14 years to maturity, a par value of $1,000, and a price
    15·1 answer
  • Which statement provides the best description of the term lifelong learning?
    5·1 answer
  • One of the limitations of aggregate accounting is that:A. it includes market transactions that should be excluded.B. it doesn't
    9·1 answer
  • Rory is the CFO of McIlroy Golf Designs Inc. MGDI earned $13 million last year and maintains a 30% dividend payout ratio. The co
    5·1 answer
  • On November 1, 2021, Taylor signed a one-year contract to provide handyman services on an as-needed basis to King Associates, wi
    12·1 answer
  • Briar Corp is issuing a 10-year bond with a coupon rate of 7 percent. The interest rate for similar bonds is currently 9 percent
    13·1 answer
  • 1. For financial accounting purposes, what is the total amount of product costs incurred to make 21,750 units
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!