Business, 15.04.2020 00:54, smilingntn33p7pqpp

Concord Furniture factors $893000 of receivables to Pharoah, Inc. Pharoah assesses a 3% service charge on the amount of receivables sold. Concord Furniture factors its receivables regularly with Pharoah. What journal entry does Concord make when factoring these receivables

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Concord Furniture factors $893000 of receivables to Pharoah, Inc. Pharoah assesses a 3% service char...