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Ollver Furniture factors $600.000 of receivables to Kwik Factors, Inc. Kwik Factors assesses a 25 service charge on the amount of receivables sold. Oliver Furniture factors its receivables regularly with Kwik Factors. What journal entry does Oliver make when factoring these receivables Select one: A. Cash Loss on Sale of Recolvables Accounts Receivable 588.000 12.000 600.000 B. Cash 600.000 Accounts Recevable Gain on Sale of Receivables 588,000 12.000 C. Cash 588.000 Accounts Receivable 588,000 OD Cash Service Charge pense Accounts Recelvablo 588.000 12.000 600.000