Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 22650 and 24500 are both wrong... bramble inc,

22650 and 24500 are both wrong... Bramble inc, factors receivables with...

90.2K

Verified Solution

Question

Accounting

22650 and 24500 are both wrong...
image
Bramble inc, factors receivables with a carrying amount of $202,200 to Joffrey Company for $177,700 on a with recourse basis. The recourse provision has a fair value of $1,850. This transaction should be recorded as a sale. Prepare the appropriate journal entry to record this transaction on the books of Bramble Inc. (If nio entry is required, select "No Entry" for the account tities and enter 0 for the amounts, Credit account titles are outomotically indented when the amount is entered. Do not indent manually, List all debit entries before credit entries.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

1- Number and describe at least five (5) factors that determine your credit score ? 2-Explain why...

Accounting
1.2K views

Please use the values from the question submitted. Mary and Kay, Inc., a distributor of cosmetics...

Biology
1.2K views

Choose the correct answer In the current democratic Japan the House of Councillors O holds...

Basic Math
1.2K views

Substitute the given values into the given formula and solve for the unknown variable. If...

Algebra
1.2K views

Question 15 Solve the given equation and give solutions fo log x 2 log x...

Algebra
1.2K views

The temperature f t of a cup of coffee in degrees Celsius after t minutes...

Algebra
1.2K views

When the number 32 is written as an exponential expression with a base of 1/2...

Accounting
1.2K views

Mama Fran's Bakery makes a variety of home-style cookies for upscale restaurants in the Atlanta...

Accounting
1.2K views

For several years Orbon Inc. has followed a policy of paying a cash dividend of...

Accounting
1.2K views

Hol Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has...

Accounting
1.2K views

Problem 8-54 (LO. 7) Oleander Corporation, a calendar year entity, begins business on March 1,...

Accounting
1.2K views

Apex Company manufactures and sells executive writing desks. The following information gathered by the companys...