Sparky, Inc. factors $800,000 of accounts receivable with Goldwater Finance Corporation. Goldwater will collect the receivables on a notification…
Sparky, Inc. factors $800,000 of accounts receivable with Goldwater Finance Corporation. Goldwater will collect the receivables on a notification basis. Goldwater assesses a finance charge equal to 3% of the accounts receivable factored and requires their fee be paid at the beginning of the agreement. Goldwater also reserves 4% of the accounts factored to cover probable adjustment for sales discounts, returns and allowances. The factoring was […]
