On December 1, Newton Enterprises sells $200,000 of accounts receivable to a factor without recourse, receives 85% of the value of the factored accounts, and is charged a 10% commission on the gross amount of the factored accounts receivable. Newton normally factors its accounts receivable. Required: Prepare Newton's journal entry. DATE Dec. 1 Cash Factoring Expense Receivable from Factor Accounts Receivable GENERAL JOURNAL ACCOUNT TITLE POST. REF. DEBIT 170,000.00 Score: 43/49 CREDIT 10,000.00 20,000.00 200,000.00