(Appendix) WestSide Textiles decides to sell $800,000 of its accounts receivable to First Factors Inc. First Factors...
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(Appendix) WestSide Textiles decides to sell $800,000 of its accounts receivable to First Factors Inc. First Factors assesses a service charge of 3% of the amount of receivables sold.
Prepare the journal entry that WestSide Textiles makes to record this sale.
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Related Book For
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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