Document-centered workflows can consume plenty of your time and energy, no matter if you do them routinely or only occasionally. It doesn’t have to be. In fact, it’s so easy to inject your workflows with extra productivity and structure if you engage the right solution - DocHub. Sophisticated enough to handle any document-related task, our software lets you adjust text, pictures, notes, collaborate on documents with other users, create fillable forms from scratch or web templates, and digitally sign them. We even protect your data with industry-leading security and data protection certifications.
You can access DocHub instruments from any place or device. Enjoy spending more time on creative and strategic tasks, and forget about cumbersome editing. Give DocHub a try right now and enjoy your Accounts Receivable Purchase Agreement workflow transform!
this video will briefly discuss the sale of receivables to a factor and how a company records a national credit card sale a common way to accelerate receivables collection is a sale to a factor a factor is a finance company or bank that buys receivables from businesses for a fee and then collects the payments directly from the customers factoring arrangements vary widely but typically the factor charges a commission which often ranges from one to three percent of the amount of the receivables purchased lets assume that this furniture company factors six hundred thousand dollars of its receivables to a factoring company this company assesses a service charge of two percent of the amount of receivables sold the following journal entry will record the sale of the receivables we will debit cash for five hundred and eighty thousand dollars you will also debit service charge expense for twelve thousand dollars and that is found by simply taking the six hundred thousand and multiplying that
