看到sale of receivables with recourse，觉得很难理解，有两个问题向大家请教：（全摘自FSA notesP245--246)

（1）Before computing ratios, accounts receivable and current liabilities should be increased by the amount of receivables that were sold.这两项为什么要加the amount of receivables that were sold呢？

(2)The sale of receivables artificially reduces the accounts receivable balance and short-term borrowings.为什么会减少短期借款呢？如果理解为用出售短期借款的现金偿还短期债务，好象不对，不具有一般性。

谢谢大家！！~

[此贴子已经被作者于2009-2-5 22:33:01编辑过]