Question 12 1 points San On June, 2019, XYZ Company factored receivables of $500,000 to ABC...

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Question 12 1 points San On June, 2019, XYZ Company factored receivables of $500,000 to ABC Company ABC Company assesses a finance charge of 4% of the receivables and retains 6% of the receivables Asume that XYZ Company factors the receivables on a with guarantee (with recourse) basis. The journal entry to be recorded by XYZ company is OA Accounts receivable 500,000 Interest revenues Cash 50,000 450,000 OB Accounts receivable. 500,000 Interest revenues Due to customer Cash 20,000 30,000 450,000 Cash 450,000 Loss on sales of receivable. 20,000 Due from factor. 30,000 Accounts receivable. 500,000 OD. Cash 450,000 Finance charge 20,000 Due from factor 30,000 Recourse hability. 500,000 Question 12 1 points San On June, 2019, XYZ Company factored receivables of $500,000 to ABC Company ABC Company assesses a finance charge of 4% of the receivables and retains 6% of the receivables Asume that XYZ Company factors the receivables on a with guarantee (with recourse) basis. The journal entry to be recorded by XYZ company is OA Accounts receivable 500,000 Interest revenues Cash 50,000 450,000 OB Accounts receivable. 500,000 Interest revenues Due to customer Cash 20,000 30,000 450,000 Cash 450,000 Loss on sales of receivable. 20,000 Due from factor. 30,000 Accounts receivable. 500,000 OD. Cash 450,000 Finance charge 20,000 Due from factor 30,000 Recourse hability. 500,000