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Blossom Distributors is a growing company whose ability to raise capital has not been growing as quickly as its expanding assets and sales. Blossom's local

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Blossom Distributors is a growing company whose ability to raise capital has not been growing as quickly as its expanding assets and sales. Blossom's local banker has indicated that the company cannot increase its borrowing for the foreseeable future. Blossom's suppliers are demanding payment for goods acquired within 30 days of the invoice date, but Blossom's customers are slow in paying for their purchases ( 6090 days). As a result, Biossom has a cash flow problem. Blossom needs $173,000 to cover next Friday's payroll. its balance of outstanding accounts receivable totals $820,000. To alleviate this cash crunch, the company sells $183,000 of its receivables. Record the entry that Blossom would make. (Assume a 3% service charge.) (Credit account titles are outomatically indented when amount is entered. Do not indent manually) Blossom Distributors is a growing company whose ability to raise capital has not been growing as quickly as its expanding assets and sales. Blossom's local banker has indicated that the company cannot increase its borrowing for the foreseeable future. Blossom's suppliers are demanding payment for goods acquired within 30 days of the invoice date, but Blossom's customers are slow in paying for their purchases ( 6090 days). As a result, Biossom has a cash flow problem. Blossom needs $173,000 to cover next Friday's payroll. its balance of outstanding accounts receivable totals $820,000. To alleviate this cash crunch, the company sells $183,000 of its receivables. Record the entry that Blossom would make. (Assume a 3% service charge.) (Credit account titles are outomatically indented when amount is entered. Do not indent manually)

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