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Scarbrough Corp. factored $600,000 of accounts receivable to Duff Corp. on October 1, 2014. Duff accepted the receivables subject to recourse for nonpayment. Duff assessed a 3% fee and retains a 5% holdback of the accounts receivable. Duff also charged 15% interest on the receivables. Scarbrough will receive cash of $529,685. The fair value of Scarbrough

Author

Jude Santos

Language

EN