On Jan 2019, XYZ Company and recevables of $700,000 ABC Company ABC Company as a finance charge of 1% of the cables and retas 4% of the receivables As that XYZ Company factors the monables on a without guarantee (without recourse) basis. The journal say to be coded by XYZ company OA Acconceivable 700,000 35,000 665,000 OR Accounts cercable 700,000 Interest vemas 7,000 Due to Cash 28.000 60,000 Cad Loss un sales of mirable Due from factor e65,000 1,000 2000 Accounts recevable 700.000 60 Cub 660,000 Finance charge 2,000 Due from fact 28000 Recesse ability 700,000