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Question 4/57
You are creating a remittance bank account for the factored with recourse bills receivable remittance receipt method.
Which bank account setup controls receipt application to short-term debt?
Which bank account setup controls receipt application to short-term debt?
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Factored Receipts
Clearing factored receipts creates a short term debt to account for your risk in case of customer default. The debt is
cleared by the Clear Receipts Automatically process Y days after each receipt maturity date, where Y is the number of
risk elimination days defined for the receipt method/bank account combination assigned to the receipt.