Calico Corners decides to sell $400,000 of its accounts receivable to Quick Central Factors Inc. Quick Central
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Calico Corners decides to sell $400,000 of its accounts receivable to Quick Central Factors Inc. Quick Central Factors assesses a service charge of 3% of the amount of receivables sold. Prepare the journal entry that Calico Corners makes to record this sale.
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Related Book For 
Accounting Tools For Business Decision Making
ISBN: 9781118771112
5th Edition
Authors: Kimmel, Wetlands, Kieso
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