Unformatted text preview: cured
versus Sale (FACTORING)
versus Sale ((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/o recourse LO 8 Explain accounting issues related to disposition
of accounts and notes receivable.
of Presentation and Analysis
Presentation and Analysis
Analysis of Receivables...
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This note was uploaded on 01/29/2013 for the course ACC 223 taught by Professor Staff during the Fall '12 term at Niagara University.
- Fall '12