Lampu Terang Bhd factored with recourse RM150,000 of account receivable for a cash proceed of RM140,000 to the Adawiyah Bank Berhad. Adawiyah Bank Berhad withheld 8% of account receivable as protection against sales return and allowance. The difference between factored account receivable and cash proceed is considered as a finance charge.
(Solved): Lampu Terang Bhd factored with r…
by | Mar 12, 2022 | Uncategorized
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