Cullumber Company has the following accounts in its general ledger at July $31$ : Accounts Receivable $$42,400$ and Allowance for Doubtful Accounts $$2,650.$ During October, the following transactions occurred.

Oct. $15$ Sold $$16,700$ of accounts receivable to Nelson Factors, Inc. who assesses a $4\%$ finance charge.

$25$ Made sales of $$1,000$ on VISA credit cards. The credit card service charge is $3\%.$

Journalize the transactions. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit