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QUESTION 1 Clooney Inc. sells $100,000 of accounts receivable to a factor, who charges a 4% service fee. Which of the following will not result

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QUESTION 1 Clooney Inc. sells $100,000 of accounts receivable to a factor, who charges a 4% service fee. Which of the following will not result from this transaction? Clooney's operating expenses will increase by $4,000. Clooney's cash balance will increase by 596,000. Clooney's net accounts receivable will decrease by $100,000. Clooney's net revenues will decrease by $4,000

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