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AFDA Unit 3: Factoring Day 5 Notes: Unit 3 Test Reviewable: ___ Block: ___ Date:___Today You will prepare for the Unit 3 Redirections: Factor out the Greatest Common Factor (GCF). Circle your answer!
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What is day 3 notes factoring?
Day 3 notes factoring is a financial process where accounts receivable are sold to a third party at a discount in order to improve cash flow.
Who is required to file day 3 notes factoring?
Businesses or individuals who engage in factoring transactions are required to file day 3 notes factoring.
How to fill out day 3 notes factoring?
Day 3 notes factoring can be filled out by providing details of the factoring transaction including the amount of accounts receivable sold and the discount rate.
What is the purpose of day 3 notes factoring?
The purpose of day 3 notes factoring is to help businesses improve cash flow by selling accounts receivable at a discount.
What information must be reported on day 3 notes factoring?
Information such as the amount of accounts receivable sold, the discount rate, and the name of the third party purchaser must be reported on day 3 notes factoring.
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