15 of 18 Midas Furniture factors $400,000 of receivables to Amman Factors, Inc. Amman Factors assesses a 2% service charge on the amount of receivables sold. Midas Furniture factors its receivables regularly with Amman Factors What journal entry does Midas make when factoring these receivables? 392.000 Loss on Sale of Receivables 8,000 Accounts Receivable 400.000 O Cash Cash 392.000 Accounts Receivable 392,000 O Cash Accounts Receivable Gain on Sale of Receivables. 400.000 392.000 8,000 Cash Service Charge Expense Accounts Receivable 392.000 8.000 400.000