On October 1, 2020, Coronado Company sells (factors) $696000 of receivables to Milago Factors, Inc. Milago assesses a service charge of 3% of the amount of receivables sold. The journal entry to record the sale by Coronado will include a debit of $20880 to Service Charge Expense. a debit of $716880 to Cash. a debit of $696000 to Accounts Receivable. a credit of $716880 to Cash