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Question $7$ of $15$

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On March $3,$ Blossom Appliances sells $$650,500$ of its receivables to Western Factors Inc. Western Factors Inc. assesses a service charge of $5\%$ of the amount of receivables sold.

Prepare the entry on Blossom Appliances' books to record the sale of the receivables. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date Account Titles and Explanation

Debit

Credit

Mar. $3$

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List of Accounts

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