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General Journal Exercise 5 - Rather than using a bank, Your Co. factor's receivables when cash is tight. 7/5 -Your Co. sells $70000 of receivables

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General Journal
Exercise 5 - Rather than using a bank, Your Co. factor's receivables when cash is tight. 7/5 -Your Co. sells $70000 of receivables to Factor Co. which charges a 4% fee. 9/24 -Your Co. sells $56000 of receivables to Factor Co. which charges a 4% fee. 12/5 -Your Co. sells $35000 of receivables to Factor Co, which charges a 4% fee

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