(a) On March 3, Kitselman Appliances sells $781,500 of its receivables to Ervay Factors Inc. Ervay Factors assesses a finance charge of 1% of the amount of receivables sold. Prepare the entry on Kitselman Appliances books to record the sale of the receivables.

(b) On May 10, Fillmore Company sold merchandise for $4,600 and accepted the customers America Bank MasterCard. America Bank charges a 4% service charge for credit card sales. Prepare the entry on Fillmore Companys books to record the sale of merchandise