A company factored $42,000 of its accounts recelvable and was charged a 2% foctoring fee. The journal entry to tecord this transaction would include a: Multiple Choice Debit to Cash of $42,840 and a credit to Accounts Receivable of $42,840. Debit to Cash of $42,000 and a credit to Accounts Recelvable of $42,000. Debit to Cash of $41,160, a debit to Factoring Fee Expense of $840, and a credit to Accounts Recelvable of $42,000. Debit to Cash of $42,000 and a credit to Notes Payable of $42,000 Debit to Cash of $42,000, a debit to Factoring Fee Expense of $840, and credit to Accounts Receivable of $41,160