FAR3

Question 1

How to record AR pledging

Answer 1

Footnote only no JE

Question 2

How to factor AR with Recourse

Answer 2

Its only a pledge with foot note only if anyone of the following conditions is missing
1-The factor is free to resell or use the receiva
2-The seller of the redceivable can not be forced to repurchase it back again
3-

Dr.Cash
Dr.Loss
Dr.Due from Factor
Cr.A/R

Question 3

What is a note receivable

Answer 3

it a written promise to pay money Face amount + interest