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can I please get help with this question On July 5, Poorco sells $90,000 of receivables to Finco without recourse on a notification basis. The

can I please get help with this question

On July 5, Poorco sells $90,000 of receivables to Finco without recourse on a notification basis. The financing charge is 6.5%, and there is an 8% holdback for sales discounts and returns. Required Complete the following with the details provided above. A. For Poorco, prepare the journal entry to factor the receivables. (10 marks) B. For Finco, prepare the journal entry to purchase the receivables

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