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Account explanation: I thought it was finance revenue but there is no option and I kept getting that answer wrong. Prepare the journal entry on
Account explanation: I thought it was finance revenue but there is no option and I kept getting that answer wrong.
Prepare the journal entry on July 1, 2020, for Sunland Finance Corporation to record the purchase of receivables without recourse. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1, 2020 Accounts Receivable 385000 Due to Customer 19250 finance 6545 Cash 359205
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