Jervis sells $3,100 of its accounts receivable to Northern Bank in order to obtain necessary cash, Northern Bank charges a 2% factoring fee. What entry should Jervis make to record the transaction? Multiple Choice Debit Cash $3,038; debit Factoring Fee Expense $62; credit Accounts Receivable $3,100 Debit Accounts Receivable $3,038; debit Factoring Fee Expense $62: credit Cash $3,100 Debit Cash $3,100; credit Factoring Fee Expense $62credit Accounts Receivable $3,100 Saved Debit Cash $3,038; debit Factoring Fee Expense $62; credit Accounts Receivable $3,100 Debit Accounts Receivable $3,038; debit Factoring Fee Expense $62; credit Cash $3,100. Debit Cash $3,100; credit Factoring Fee Expense $62; credit Accounts Receivable $3,100 Debit Cash $3,038; credit Accounts Receivable $3,038 Debit Accounts Receivable $3,100; credit Factoring Fee Expense $62; credit Cash $3,038