Not yet answered Time left 0:33:03 Marked out of 1.00 P Flag question Arab Company sells $18500 of its receivables to Amman Factors, Inc. Amman Factors assesses a finance charge of 1% of the amount of receivables sold. The journal entry to record the sale by Arab will include: a. a credit of $185 to Service Charge Expense. b. a debit of $18500 to Accounts Receivable. c. a cedit of $18500 to Accounts Receivable. d. a debit of $18685 to Cash. On October 1, 2020, Arab Company issued an $52600, 6 months, 12%, interest bearing note. If the Arab Company is preparing financial statements at December 31, 2020, the adjusting entry for accrued interest will include a: 0 a. debit to Interest Expense of $1578. b. debit to Interest Expense of $6312. C. credit to Interest Payable of $3156. d. credit to Notes Payable of $1578