Assume that the transaction was a factoring arrangement with recourse and included a holdback of $6,000.If the fair value of the recourse obligation is equal to the allowance of $3,500,which one of the following entries will Ritter make to record this transaction?

A) $\begin{array}{lrr}\text{ DR Cash }& 100,000& \\ \text{ DR Allowance for doubtful accounts }& 3,500& \\ \text{ CR Accounts receivable }& & 100,000\\ \text{ CR Recourse obligation }& & 3,500\end{array}$
B) $\begin{array}{lrr}\text{ DR Cash }& 88,000& \\ \text{ DR Loss on sale of receivables }& 6,000& \\ \text{ DR Allowance for doubtful accounts }& 3,500& \\ \text{ DR Due from Hisker Enterprises }& 6,000& \\ \text{ CR Accounts receivable }& & 100,000\\ \text{ CR Recourse obligation }& & 3,500\end{array}$
C) $\begin{array}{lll}\text{ DR Cash }& 88,000& \\ \text{ DR Loss on sale of receivables }& 12,000& \\ \text{ CR Accounts receivable }& & 100,000\end{array}$
D) $\begin{array}{lll}\text{ DR Cash }& 88,000& \\ \text{ DR Loss on sale of receivables }& 12,000& \\ \text{ CR Due to Hisker Enterprises }& & 100,000\end{array}$

When it comes to segmenting markets based on income, the group of American households that have between $100,000 and $250,000 in investable assets and is one of the fastest growing segments in the United States is referred to as ________ ________.

Which is not considered a white collar crime?

A) Corporate tax evasion
B) Credit card fraud
C) Insider trading
D) Identity theft
E) Mugging someone

Which of the following is true of an intermediate good?

A) It is of no value to the seller.
B) It is of no value to the buyer.
C) It is purchased for household production.
D) It helps produce another good.
E) It is sold at a discounted price by firms.

Where the states fail to enforce the drinking water standards,the federal government has the right to enforce them.

The Federal Food, Drug, and Cosmetic Act protects consumers against contaminated and misbranded food and drugs.