Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. maxwell corporation factored, with recourse, $400,

Maxwell Corporation factored, with recourse, $400,000 of accounts receivable with Huskie Financing. The finance charge...

60.1K

Verified Solution

Question

Accounting

Maxwell Corporation factored, with recourse, $400,000 of accounts receivable with Huskie Financing. The finance charge is 3%, and 5% was retained to cover sales discounts, sales returns, and sales allowances. What amount of cash would Wiley receive on the sale of receivables?

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

Mechanical Engineering
1.2K views

Write theory, real life application and recommendations for Kinematic of linear motion lab?

Psychology
1.2K views

Explain the 14th amendment. Why was it written and how did it change the Constitution? How did...

Accounting
1.2K views

[The following information applies to the questions displayed below.] Allied Merchandisers was organized on May 1. Macy...

Biology
1.2K views

The unpaired nucleotides produced by the action of restriction enzymes are referred to asA. sticky...

Physics
1.2K views

A frog sits on the end of a long board of length L 10 cm...

Physics
1.2K views

2 moles of monatomic gas at temperature 27 C is mixed with 3 moles of...

Algebra
1.2K views

Here is a list of the main characters in Shakespeare s Romeo and Juliet The...

Accounting
1.2K views

Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending...

Accounting
1.2K views

Bir irketin alacak hesaplarnn yalanmas, 9.000 $'n tahsil edilemeyeceinin tahmin edildiini gsterir. pheli Hesaplar iin...

Accounting
1.2K views

Hello, Please provide amortization assistance, template or calculator when working with amortization for working with...

Accounting
1.2K views

2. Adoption of ASC Topic 842 related to leases represents a Multiple Choice ...

Finance
1.2K views

Please show how you find the answer! Thank you so much 13. Jensen...