A company factors $500,000 of its receivables. The factor assesses a 3% service charge on the amount of receivables sold. What journal entry does the company record when factoring these receivables? Cash 500.000 Accounts Receivable 485.000 Gain on Sale of Receivables 15.000 O Cash 485.000 Accounts Receivable 485.000 O Cash 485.000 Service Charge Expense 15,000 Accounts Receivable 500.000 O Cash 485.000 Loss on Sale of Receivables 15.000 Accounts Receivablo 500.000 None of these are true