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Lynnes Furniture Store had $350,000 in receivables and factored them to Marvins Finance Co. on December 31, 2020. Marvin paid her 90 cents on the

Lynnes Furniture Store had $350,000 in receivables and factored them to Marvins Finance Co. on December 31, 2020. Marvin paid her 90 cents on the dollar. Prepare the entry for Lynnes Furniture store

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