Novak Furniture factors $730000 of receivables to Bridgeport Factors, Inc. Bridgeport Factors assesses a 2% service charge on the amount of receivables sold. Novak Furniture factors its receivables regularly with Bridgeport Factors. What journal entry does Novak make when factoring these receivables? Cash 530000 Accounts Receivable 715400 14600 Gain on Sale of Receivables Cash 715400 Service Charge Expense 14600 Accounts Receivable 730000 Cash 715400 14600 Loss on Sale of Receivables Accounts Receivable 730000 O Cash 715400 Accounts Receivable 715400