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Instructions: Present the journal entries specified below. (1) Rosen Company sells $600,000 of accounts receivable to National Factors, Inc. for cash less a 2.5% service

Instructions: Present the journal entries specified below.

(1) Rosen Company sells $600,000 of accounts receivable to National Factors, Inc. for cash less a 2.5% service charge. Record the sale.

(2) Made Visa credit card sales totaling $9,500. A 2% service fee is charged by Visa. Record the sale on the books of Rosen Company.

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