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  1. business
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  3. a) accounts receivable in the amount of sar500,000

a) Accounts receivable in the amount of SAR500,000 were assigned to Utley Finance Co. by...

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Accounting

a) Accounts receivable in the amount of SAR500,000 were assigned to Utley Finance Co. by
Mars as security for a loan of SAR425,000. Utley charged a 3% commission on the accounts; the
interest rate on the note is 12%.
(b) During the first month, Mars collected SAR200,000 on assigned accounts after deducting
SAR450 of discounts. Mars wrote off a SAR530 assigned account.
(c) Mars paid to Utley the amount collected plus one month's interest on the note.
please provide step by step explain avoid handwritten

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