How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Chris M. Your Own Question
Chris M.
Chris M., M.S.W. Social Work
Category: Homework
Satisfied Customers: 2788
Experience:  Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)
22285537
Type Your Homework Question Here...
Chris M. is online now
A new question is answered every 9 seconds

Gar Co. factored its receivables with recourse with Ross Bank.

Customer Question

Gar Co. factored its receivables with recourse with Ross Bank. Assume Gar surrenders control of the receivables. Gar received cash as a result of this transaction, which is best described as a
A. Loan from Ross collateralized by Gar’s accounts receivable.
B. Loan from Ross to be repaid by the proceeds from Gar’s accounts receivable.
C. Sale of Gar’s accounts receivable to Ross, with the risk of uncollectible accounts retained by Gar.
D. Sale of Gar’s accounts receivable to Ross, with the risk of uncollectible accounts transferred to Ross.
Submitted: 6 years ago.
Category: Homework
Expert:  Chris M. replied 6 years ago.
THIS ANSWER IS LOCKED!

You need to spend $3 to view this post. Add Funds to your account and buy credits.
Chris M. and 3 other Homework Specialists are ready to help you