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  • Receivable Financing 1

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    Mitos Cielo Navaja
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    4 views1 page

    Receivable Financing 1

    Uploaded by

    Mitos Cielo Navaja

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Problem 1: (Pledge)

    On September 1, 2018, ABC Co. borrowed P100,000 from a bank and pledged all of its P200,000
    accounts receivable as
    security.

    1. Prepare all necessary entries on September 1, 2018 to record the foregoing transaction.

    Sept. 1, 2018 Cash 100,000


    Note Payable - bank 100,000

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