ACC 304 All Assignments ACC 304 All Assignments | Page 80

repurchased the inventory, Nolan used the proceeds to repay its bank loan. 35. This transaction is known as a(n) a. consignment. b. installment sale. c. assignment for the benefit of creditors. d. product financing arrangement. 36. On whose books should the cost of the inventory appear at the December 31, 2012 balance sheet date? a. Carne Corporation