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another way of financing receivable is by means of factory so in factoring guys uh narrative is that receivables are being sold to the factor definitely been a bent upon attained in receivables not an eye factor and along garena factors in Sanya name receivable channel McCulloch supposed to me Yaiba the one who will pay the receivable will be the customer pyromancy seller of course been and Palin rapidly factor because we need cash Indian adults officiant Cassie I'm passionate and for daily operation that's why we need an immediate cash and looking paronella nuttin para macaron Akash is to sell our receivable to the factor son and clear intimacy would be on no now the factor makes a profit cannot go on it will I don't know eeny Bellini Rahman RC Willey like I said they are making a profit from it either by charging a fee charging interest or by paying below face value Porter receivables meaning to say guys come Aaron Paul if we are the seller know if we sold like say twelve million worth of receivables factor not and Hindi Pattaya bar buyer and now the same amount the 12 million her higher than twelve million Casio latina profit Concannon gaga vanilla riskier in castle on the part of the factor pug without recourse bassist Ian and upon us up and not in mamaia this is nothing difference none with recourse and without recourse okay so see factor come without recursion guys risky Suhani n there could be any allowances like sales returns this concert but deaths in demon behind Adama bad young costumer Sonya Sonya Nagarajan dapat magnanimous man a king must Malik Envy a singers changuk Okanagan no and then of course factor will charge an interest also and could be in sin a peanut and Baba are anti you now lower than the face value nabina Benton Arkansas yeah yes banaba all right so the company's selling is receivable in seven have been you know been to deny receive when Anton Sonya is the seller okay even if the receivables had not been sold in the eyes of accounting Judy you know latter a factoring could be with the recourse consider be nothing will recur skies means that the seller has to compensate Bob IRA now see factor for any unpaid receivables do you get it Soyoung risk even after an event and another or even after the fact on and happening receivable he still will be borne by the seller passing apparently Bali kangan grace conservator Indiana by Allah Bob Mollica NASA seller para Miceli on receivable opinion that I factored we added okay let Ruby naman it could be without recourse basis and without recourse base system and guys is that one an Impala convenience factor what every case may be in diamond by ad C customer lost my Annie factor okay in this case guys there will be an obviously a higher charge for the serviced compensate the factor for the high risk must Malachy Dow young it attention a factor KY Sadler because Kumasi risky and do you get it cassia after selling or after factoring receivable young factor poem Mac Bo burner or Magda Bernal risk okay so in accounting for factorings of receivables guys number one if the receivables have been sold banan the Dow then they will be removed from the balance sheet but I in donating see receivable of course replaced by cash passing and happen captain Akash however if the seller retains significant risk and benefit indeed on a transfer unison benefit k factor and gagawin Jan is a liability okay the seller will recognize the Ashland decision as a liability cocina para Indian Bonanza debar open anthem we end up a significant risk and benefit should be transferred also to the to D factor a number two no man if all benefits can be determined and number one if the seller ratings no you don't know man if the benefits and risk have been disposed meanings say that it was transferred to the factor then there has been a genuine see Bobby recognized a tire on sale and of course you know receivable nothing that I could nice not in young singer banana punative okay the difference between the net profits plus any a multi gain by the factor in the amortized cost amortized costs is computed as for his value minus all the allowances light returns discounts and but that's if ami amortized costs actually and beanie pertain that engine is the NRV or the net realizable value to compute for the profit or loss okay again we are getting the difference of the net proceeds Plessy on nearly paid now factor atomic not insanity pain on factor actually less is the factors all bad that's why company at Bowman C net proceeds plus D the taint by the factor which is Cinna Bennett and the factors called back or that is a receivable from the factor young Jakob Wong selling price not a Manhattan gap not in Chi Chi factor okay and then of course unless not in the enca carrying amount which is it on an amortized cost or also known as the net realizable value by again deducting all the allowances to the face value maja compute not in genuine profit or loss you get it okay do you get it do you get it no son Annunaki Costner so I know own treatment not as a factors hold back it is recognized in reported as a current asset definitely guys that is a receivable and that is a current asset kakihara wanna factors hold that they say in a pentatonic twelve million example the late party has lead us a task they pentathlon 12 million tapas bar by an anti-knock 11 million Sabine internetting accounts receivable man perro beanie gentlemen ten million five hundred they say ten million five hundred thousand Sanibel tae-young five hundred thousand nakulan I seen 11 million opener in selling price and a fantasy world beneath me and canal ten million five hundred that five hundred thousand pesos was actually withheld by the factor for Amy and I one says in the future less a marathon additional returns this concert but that's don't eat Chester Hsieh latvian semana as a factors all Batmans emotinal we need help nee factor ok so long in diamond or lexan or let manila hot young 12 million person and well on problema Wally Macias returns the Skousen but that's a babbling in fact Oriente seller will definitely parent selling assets llegando yah panic bin the man we need healthier now for any risk in the future right without further ado let's get to the illustration so the company like bandit Oceania receivable intelligence without recourse well anabolic on whatever it lost he bury any San si factor no so the factory charge 10% 15% Commission doubts a 12-person there ok and 10% was withheld by the factor also in protection attempt in a purpose again in protection against customer returns and other adjustments of course in the future now the entity had previously ok Marin pine after than the 400,000 pounds for this accounts by year-end the entity had collected the factors Hall back there being no possible returns in other adjustments so good panel it was collected all the accounts receivable was collected without any other adjustments so this 12 million pesos actually was received by the factor so to compute for number one or latter a what amount of cash received from factoring remember we are selling a twelve million accounts receivable so this is said and then fifteen percent was charged as commissioned by the factor so multi-plane opinions eighty-five percent to get the selling price will actually parent anyway know you are selling you are selling your twelve million account receivable for ten million two hundred thousand pesos but indian is my co-pilot more during that day Lebanon temov passing a ten percent of that was withheld by the factor that's why let's not in say 1 million two hundred thousand pesos clump is for the cash you receive so the answer for letter e is nine million pesos okay what is the loss in factory definitely again keno compared nothing it is a selling price and of course the carrying amount of the Arecibo makan obatala guy young benin Tamang receivable it's not 12 million why because there is a four hundred thousand four hundred thousand after you but imputed for the net realizable value that's the face value - the after four high thousand pesos that's why we were able to confuse for eleven thousand six hundred thousand so that's twelve million - four hundred thousand so eleven million six hundred thousand the difference of the selling price and net realizable value we may observe a detour a numismatic a must Maliki poem a Mount Lebanon Turnitin Casa semana Latin gap natin which is ten million two hundred pesos only therefore that is a loss a loss of 1 million four hundred thousand pesos so we journalize that of course debit pionen cash the nine million pesos see you noona pan gap not and during this dana and then of course we debit factors hauled back 1 million two hundred thousand pesos it was debited because receivable and that is an okay so the total selling price is ten million two hundred thousand pesos they recognize not in the onion banana nada and papaya Nathan see a partnership will work twelve million persons and of course we debit after the recognizes in opinion related allowance for doubtful accounts on this receivable in a foreign thousand pesos and of course loss is a debit time event that's why we debit 1 million four hundred thousand pesos para sabine adding parent of confirm that it is check or it is okay the the entries right guys debit should always be equal to credit so that's 12 million 12 million tama Pattaya okay