Jones Company has notes receivable that have a fair value of $950,000 and a carrying amount of $1,250,000. Jones decides on December 31, 2017, to use the fair value option for these recently-acquired receivables. Which of the following entries will be made on December 31, 2017, to record the unrealized holding gain/loss? Unrealized Holding Gain or Loss-Equity 300,000 Notes Receivable Unrealized Holding Gain or Loss-Income 300,000 Notes Receivable Notes Receivable 300,000 300,000 300,000 Unrealized Holding Gain or Loss-Income 300,000 Notes Receivable 300,000 Unrealized Holding Gain or Loss-Equity 300,000 QUESTION 27 Which of the following is a method to generate cash from accounts receivable? Assignment Factoring Yes No Yes Yes No Yes No No QUESTION 28 Which of the following is a characteristic of a perpetual inventory system? Inventory purchases are debited to a Purchases account. Inventory records are not kept for every item. Cost of goods sold is recorded with each sale. Cost of goods sold is determined as the amount of purchases less the change in inventory