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On December 1, 2015, Altona Winery sells $100,000 of its accounts receivable and is charged a 5 percent factoring fee. Prepare the December 1 journal

On December 1, 2015, Altona Winery sells $100,000 of its accounts receivable and is charged a 5 percent factoring fee. Prepare the December 1 journal entry for Altona by selecting the account names and dollar amounts from the drop-down menus.

Date

Account

TitleDebit

Credit

Dec. 1

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