Business, 17.03.2020 05:26, lukeramjitsingh

On March 3, Sunland Company sells $768,600 of its receivables to Western Factors Inc. Western Factors Inc. assesses a service charge of 5% of the amount of receivables sold. Prepare the entry on Sunland Company’ books to record the sale of the receivables. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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On March 3, Sunland Company sells $768,600 of its receivables to Western Factors Inc. Western Factor...