A company factors $100,000 of its receivables. The factor assesses a 2% service charge on the amount of receivables sold. What journal entry does the company record when factoring these receivables? Cash 98,000 Accounts Receivable 98,000 Cash 100,000 Accounts Receivable 98,000 Gain on Sale of Receivables 2,000 O Cash 98,000 Loss on Sale of Receivables 2,000 Accounts Receivable 100,000 O None of these are true Cash 98,000 Service Charge Expense 2,000 Accounts Receivable 100,000