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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Describe what happens when receivables are factored.

To determine

Factoring:

The factoring is the practice by which the business recovers their receivables in less time which means there is an improvement in the collection process of receivables which is good for the business for the management of the cash.

The effect of factoring on receivables.

Explanation

The factoring practice is used by the businesses for increasing the collection process of receivables. This process helps business to recover the receivable in a quick time and reduces the risk of the bed debts. Although, the factors providing this service charges some amount but that amount is compensated w...

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