Lucille Company exchanges its receivables for cash through pledging. Lucille should do each of the...
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Accounting
Lucille Company exchanges its receivables for cash through pledging. Lucille should do each of the following, except Select one: a. Recognize any gain or loss b. Retains ownership of the pledged receivables c. Disclose the pledging of its accounts receivable in the notes to the financial statement O d. Make an entry with a debit to cash and a credit to notes payable
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