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On October 1,2020, Brosnan company sells (factors) 800000 of receivables to Nation factors, Inc. Nation assesses a service charge of 3% of the amount of

On October 1,2020, Brosnan company sells (factors) 800000 of receivables to Nation factors, Inc. Nation assesses a service charge of 3% of the amount of receivables sold. the Journal entry to record the sale by Brosnan will include:

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