Valix Finacc vol 1 Problem 6-11

Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 1 Problem 6-11

Cash                                                                                                  5,000,000

Receivable from factor                                                                       300,000

Allowance for bad debts                                                                    250,000

Loss on factoring                                                                                 450,000

        Accounts receivable                                                                                          6,000,000