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sir if the financial asset=$4m and proceeds from factoring=$3.6m
under non-recourse factoring, we will dr. cash($3.6m), dr. SPL(interest of $0.4m) and cr. financial asset($4m), right?
under with recourse factoring, financial assets retained(at $4m) as it is, and dr. cash($3.6m) and cr. liability($3.6m), right?
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