On December 1, Altona Winery sells $100,000 of its accounts receivable and is charged a 5 percent factoring fee. Prepare the December 1 journal entry for Altona by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
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On December 1, Altona Winery sells $100,000 of its accounts receivable and is charged a 5 percent fa...
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