Concord Furniture factors $530000 of receivables to Bridgeport Factors, Inc. Bridgeport Factors assesses a 4% service charge on the amount of receivables sold. Concord Furniture factors its receivables regularly with Bridgeport Factors. What journal entry does Concord make when factoring these receivables? Cash 330000 Accounts Receivable 508800 21200 Gain on Sale of Receivables Cash 508800 21200 Loss on Sale of Receivables Accounts Receivable 530000 Cash 508800 Service Charge Expense 21200 Accounts Receivable 530000 Cash 508800 Accounts Receivable 508800