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At the end of May, SDSU Aztecs factored (without recourse) $200,000 in accounts receivable with...

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Accounting

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At the end of May, SDSU Aztecs factored (without recourse) $200,000 in accounts receivable with Market Equities Finance. Market Equities charges a 3% fee on factored receivables. During June, $150,000 of the receivables factored by the company are collected. What amount of loss should SDSU Aztecs record in May? Multiple Choice $4.500 $6.000 Zero. $1,500

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