Factoring

This topic has 4 replies, 2 voices, and was last updated 9 years ago by mariagill.

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May 20, 2016 at 5:31 pm #316045
mariagill
Member
- Topics: 5
- Replies: 16
In the Highwood question, since all the receivables have been “sold” to EasyFinance and EasyFinance is collecting money from the receivables,how will the balance of receivables be credited in Highwood?
May 21, 2016 at 8:15 am #316146
MikeLittle
Keymaster
- Topics: 27
- Replies: 23368
By the entry:
Dr Bank $8.7
Dr Administrative expenses $1.3
Cr Receivables $10
OK?
May 23, 2016 at 4:13 pm #316269
mariagill
Member
- Topics: 5
- Replies: 16
Isn’t this the wrong actual entry made by Highwood which should have been reversed by :
Dr Receivables 10
Cr Adm 1.3
Dr Loan a/c 8.7 ?
May 23, 2016 at 4:13 pm #316271
mariagill
Member
- Topics: 5
- Replies: 16
Isn’t this the wrong actual entry made by Highwood which should have been reversed by :
Dr Receivables 10
Cr Adm 1.3
Dr Loan a/c 8.7 ?
May 23, 2016 at 4:13 pm #316334
mariagill
Member
- Topics: 5
- Replies: 16
Isn’t this the wrong actual entry made by Highwood which should have been reversed by:
Dr Receivables $10
Cr Admin $1.3
Cr Loan a/c $8.7 ?
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