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Business, 21.04.2020 18:45 twhalon72

1.Anderson Company transferred $100,000 of accounts receivable to the Eastern Bank. The transfer was made without recourse. Eastern remits 90% of the factored amount to Anderson and retains 10%. When the bank collects the receivables, it will remit to Anderson the retained amount (which Anderson estimates has a fair value of $8,000) less a 3% fee (3% of the total factored amount). What amount of loss on sale of receivables would Anderson record

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