On March 3 Virtual Appliances sells $900,000 of its receivables to Fundamental Factors Inc. Fundamental Factors Inc.
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On March 3 Virtual Appliances sells $900,000 of its receivables to Fundamental Factors Inc. Fundamental Factors Inc. assesses a finance charge of 4% of the amount of receivables sold.
Instructions Prepare the entry on Virtual Appliances’ books to record the sale of the receivables.
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Related Book For 
Financial Accounting Tools For Business Decision Making
ISBN: 9780471347743
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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