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A Company sold $32,000 of its accounts receivable and was charged a 3.5% factoring fee. How told the company record this transaction in the journal?

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A Company sold $32,000 of its accounts receivable and was charged a 3.5% factoring fee. How told the company record this transaction in the journal? Cash 32 Account Receivable 32,000 Cash 30,88 Factoring Fee Expense 1,12 Account Receivable 32,000 Cash 32 Factoring Fee Expense Account Receivable 30,880 Account Receivable 30 Factoring Fee Expense 1,12 Cash 32,000 O Account Receivable 32 1,120 Factoring Fee Expense 30,880 Cash

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