The Trey Co sells $75,000 of accounts receivable to a factor and receives 90% of the value of the factored accounts less a 15% commission based on the gross amount of factored accounts receivable. After the journal entry to record this factoring transaction is made, Trey Co's total assets will be
A) reduced by $67,500.
B) reduced by $7,500.
C) reduced by $11,250.
D) increased by $41,000.
C
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Indicate whether the statement is true or false
A limited liability company must be managed by its members.
Answer the following statement true (T) or false (F)