Question 1 1 points On June 2010, XYZ Company factors receivables of $700,000 to ABC Copy ABC Company assesses a fine shops of 1% of the receivables and retains 4% of the masivables. As that XYZ Congoy aches the receivables on a without guarantee (without recourse) basis. The journal entry to be recorded by XYZ company is OA Accounts receivable Interest revens Cal 700,000 33,000 665,000 ON Accounts receivable 700,000 Interest reves 7.000 Due to customer 28,000 Ca 665.000 OC Cash Finance charge 665,000 7,000 Due from factor 25,000 Recouve liability 700,000 COD. Cash 665,000 Loss on sales of receivable 7,000 Dae from factor 28,000 Accounts receivable 700.000