Jervis sells $$4,300$ 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?

Debit Accounts Receivable $$4,214$; debit Factoring Fee Expense $$86$; credit Cash $$4,300.$

Debit Cash $$4,214$; credit Accounts Receivable $$4,214$

Debit Cash $$4,300$; credit Factoring Fee Expense $$86$; credit Accounts Receivable $$4,300$

Debit Cash $$4,214$; debit Factoring Fee Expense $$86$; credit Accounts Receivable $$4,300$

Debit Accounts Receivable $$4,300$; credit Factoring Fee Expense $$86$; credit Cash $$4,214$