Record the sale by Kroll Company of $1,000 in accounts receivable on May 1. Kroll is charged

Question:

Record the sale by Kroll Company of $1,000 in on May 1. Kroll is charged a 3% factoring fee.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...