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1. Walmart transferred $10,000 accounts receivable to a factor without recourse. Finance charge was 5%. Provide the journal entry for Walmart to record the transfer.
1. Walmart transferred $10,000 accounts receivable to a factor without recourse. Finance charge was 5%. Provide the journal entry for Walmart to record the transfer. 2. Walmart transferred $10,000 accounts receivable to a factor with recourse. Finance charge was 5%. Holdback was 2%. Provide the journal entry for Walmart to record the transfer
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