Question
Lake House Co. sold $80,000 of accounts receivable to First Savings and incurred a 3% factoring fee.What is the journal entry for Lake House Co.
Lake House Co. sold $80,000 of accounts receivable to First Savings and incurred a 3% factoring fee.What is the journal entry for Lake House Co. to record the sale?
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
