Question 18 (3 points) Star Inc. factors $200,000 of its accounts receivables on a without recourse basis for a finance charge of 4%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Which of the following is TRUE regarding the recording of the "due from factor" account? The due from factor account will be debited by $8,000 The due from factor account will be credited by $20,000 The due from factor account will be debited by $20,000. The due from factor accdunt will be credited by $8,000. Previous Page Next Page Page 18 of 25