(4 points) Lucy factored $2,500,000 of accounts receivable with Ethel on a without recourse basis on May 1. Ethel assessed a finance charge of $15,000. Ethel retained an amount equal to 5% of the total ARs factored to cover sales returns. During May and June, customers returned merchandise to Lucy on $115,000 of credit sales. All of these returns related to receivables from the $2,500,000 pool of ARs sold. After taking the returns into consideration, Ethel collected $2,381,000 of the factored ARs. On June 30, Lucy and Ethel “settled up” meaning Lucy and Ethel paid each other any cash that was due the other.
Prepare the entry Lucy should make on May 1.
Prepare the entry Lucy should make on June 30.
Based on the above facts, what net profit did Ethel end up earning?
Based on the above facts, what net expense did Lucy end up incurring?
PUBG Mobile hacks Cheat Codes, PUBG Wallhack Aimbot [Proved 2021]
Disclaimer: This article has been written for educational purpose only. We don’t encourage hacking or cracking. In fact we are here discussing the ways that hackers are using to hack our digital assets. If we know, what methods they are using to hack, we are in very well position to secure us. It is therefore at the end of the article we also mention the prevention measures to secure us. Player Unknown Battle Ground (PUBG) is one of the best selling games in the world today with over 60 million copies sold and having more than 85 million daily players. In the Game Industry, PUBG has played a vital role and the craze of playing PUBG among the kids and the youth is increasing day by day. If you are a player of PUBG than you must know the reward that you win as Winner Winner Chicken Dinner (WWCD) . As the PUBG is getting more popular hackers are also looking to exploit the game features and PUBG Mobile hack is always a danger for PUBG players. Whether you a...
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