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On September 1, Crane Motors sells $570,000 of its receivables to Factors Incorporated. Factors Incorporated assess a service charge of 4% of the amount of

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On September 1, Crane Motors sells $570,000 of its receivables to Factors Incorporated. Factors Incorporated assess a service charge of 4% of the amount of receivables sold. Prepare the entry on Crane Motors' books to record the sale of the receivables. (List all debit entries before credit entries. Credit occount titles are automatically indented when the amount is entered. Do not indent manually.)

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