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E7.17 (LO 5) (Transfer of Receivables with Guarantee) Bryant Ltd. factors receivables with a carrying amount of 200,000 to Warren Company for 190,000 and guarantees

E7.17 (LO 5) (Transfer of Receivables with Guarantee) Bryant Ltd. factors receivables with a carrying amount of £200,000 to Warren Company for £190,000 and guarantees all credit losses. Instructions Prepare the appropriate journal entry to record this transaction on the books of Bryant Ltd.

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