Reconciliation of bank balances chapter 7 68 lo 10

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Unformatted text preview: cured versus Sale (FACTORING) versus Sale ((FACTORING) (FACTORING) FACTORING) Illustration 7-21 The FASB concluded that a “sale” occurs (FACTORING) only if the seller surrenders control of the receivables to the buyer. Three conditions must be met as follows: Factoring w/recourse Chapter 7-63 Pledging Factoring w/o recourse LO 8 Explain accounting issues related to disposition LO of accounts and notes receivable. of Presentation and Analysis Presentation and Analysis Analysis of Receivables...
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