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QUESTION 4 RICK'S Retailer needs immediate cash to pay salaries and purchase additional merchandises. It decided to sell an Accounts Receivable balance for $150,000 to

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QUESTION 4 RICK'S Retailer needs immediate cash to pay salaries and purchase additional merchandises. It decided to sell an Accounts Receivable balance for $150,000 to Joe Factor. Joe Factor will charge a service fee of 5%. Please prepare the journal entry to record the cash Joe Retailer will pay Rick's Retailer. TTT Arial 3 (12pt] T. : . 5

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