At the end of june, the marquess company factored $200,000 in accounts receivable with homemark finance. homemark charges a fee of 3% of receivables factored. during july, $150,000 of the factored receivables are collected. if the transfer were made with recourse but is still accounted for as a sale, what amount of loss on sale of receivables would the company record in june assuming the estimated recourse liability is $2,000?

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.