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A company sells $714000 of accounts receivable to a factor for cash, incurring a 5% service charge. The entry to record the sale should not

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A company sells $714000 of accounts receivable to a factor for cash, incurring a 5% service charge. The entry to record the sale should not include a debit to Service Charge Expense for $35700. debit to interest Expense for $35700 debit to Cash for $678300. credit to Accounts Receivable for $714000

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